So no external leaks.
Another thing to check is with top off the brake reservoir have someone carefully watch the level, then as brake pedal is pressed and it starts to drop, it is normal to see the level go down very slightly on pushing on a hard pedal, but if master cylinder is faulty and pedal still being pushed down, what you may see is the level start to rise again.
This is down to faulty pressure seals in the master cylinder allowing the brake fluid back past the seals and into the reservoir again instead of pushing the brake cylinders under the car.
On a good master cylinder the fluid will only return to reservoir as brake pedal is released.
Other faults in regards to excessive brake travel can be bad adjustment at the wheels and another is loose wheel bearings.
A common indication of brake master cylinder fault is, if you smack the pedal on hard it works, but if you press gently and then relax the pressure but continue to lightly press the brake pedal , it slowly drops down towards the floor. This is due to the rubber seals spreading and sealing in the cylinder on hard application, but relax and don't seal on gentle pedal pressure.
The only small conciliation is most vehicles have Dual Circuit brake systems these days so although the pedal drops it should have some stopping ability near to the floor if you are lucky.

Over 50 years ago I went out on a breakdown with the garages old 1950s Land Rover, I had gone down a very steep hill at usual apprentice "high speed", got to the broken down vehicle and decided to swing around in the road to be near it, I went to stop and the brake pedal (pre Dual Circuit) brakes went straight to the floor resulting in the Land Rover driving up the grassy bank!
I fixed the car and then drove back to garage slowly using the hand brake.