An example: I have an account with the bank Bancomer. In Spanish, "comer" means to eat, so I refer to it as "eßenbanque". (I know it's "essen"; nobody likely to find my list would recognize the ß, though; it would be mistaken for a B.) If my password were "l4rryb1rd" (it's not) I might render it as "oiseaulázaro", just enough of a reminder, while still misleading.

This scheme might not work so well in, say, Brussels, but here in Monolingüilandia I think it's reasonable, although I do wonder from time to time just how sound it really is.