Yes it’s true. When ever you save a password for any website or web service, such as email, social media etc.. Your browser will save it and anyone who able to access your browser can see all your passwords.
Here we are explaining about how to set a master password for Mozilla Firefox
How to See saved passwords in Chrome?
Go to settings -> show advanced settings -> on password and forms, Manage saved passwords.
while click on each password it will show password in text format.