Yes, but if you move your credential file to a different node-RED installation, you would need to enter all the passwords, keys etc again in the new installation.
I've just successfully moved my node-RED installation to a new server and kept all my logins intact. If I had not set my own key in settings, it would have taken me hours to recover & restore my passwords, keys etc, for Darsky, Pushbullet, Pushover, MQTT, Ring, Twitter, gBridge... etc, etc.
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