With macOS Tahoe, the login keychain, a SQLite database file named login.keychain-db, is stored in the user’s home folder. Historically, users could copy this file between Macs and open it with the correct password.
This manual copying method no longer functions on Macs equipped with a Secure Enclave when running macOS Tahoe. The change stems from how keychain items are encrypted and protected.
Keychain items use two AES-256-GCM keys: a metadata key and a per-row secret key. The metadata key is protected by the Secure Enclave and cached in the Application Processor, while the secret key always requires a round trip through the Secure Enclave for decryption.
The keys required to decrypt the login keychain are now tied to the specific Secure Enclave of the Mac where the keychain was created. Consequently, even with the correct password, the necessary decryption keys are unavailable on a different Mac, rendering copied keychains inaccessible.
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Manually copying login keychain files between Macs no longer works on Secure Enclave-equipped Macs running macOS Tahoe. This change is due to keychain decryption keys being tied to the Secure Enclave of the originating Mac, preventing access on a different device.