long term hodling. hardware wallet vs electrum

so am wondering if I want to store bitcoin for long long time, can I just keep it on electrum wallet and delete that wallet just remember pass phrases compared to hardware wallet were I have to remember backup phase and also make sure hardware wallet is not lost or broken.

what happen if my hardware wallet is lost/stolen/broken and also hardware manufacturer is out of bness or Gov ban sell of that hardware wallet in geography. is it possible to regain bitcoin with recovery words in absence of hardware wallet.