Primary reason: bots.
Wether data gathering bots or actual people trying to hard crack your site. they NEED access to that info, so now people upped their defense against these bots with method such as a human verification text.
Which motivated the bot writer to get past these security, so bots that can decipher text became a thing, and now its like a on going arms war in the digital world.
And the end result is the current recaptcha, using a combination of picture and confirmation clicking . This proven to be successful, for now.
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