sounds pretty good.
there is also software which writes data trash on a disk, erases it and writes again trash. this reduces the chance to get the data back cause for example simply formatting a disk is not enough and the data can be brought back.
but with classic hard-disks becoming less common and flash based memory like SSDs is more common smashing you devices or solid state drives to pieces after changing passwords and factory resetting is a good strategy.
that is based on the way how SSDs store data cause for technical reasons this became a bit more complex than saving data on simple hard-disks.