My beef with 1PW is that it's a single point of failure, not to mention inconvenience/risks. For example, what if I need to check gmail in a trusted, but borrowed device.
The main issue I think is that using only one password for security is insufficient (but not necessarily go for a 2-factor auth)
(Though in the complete disaster scenario, I have stored in my wallet, as suggested by Bruce Schenier, the app-password my phones use and the list of backup verification codes - unlabelled so a casual thief _probably_ won't know what to do with them... I've also got irregular exports of everything and the 1Password passphrase and phone PIN printed out and stored in an envelope in the office safe. I _think_ I'm sufficiently paranoid about all that...)
Just don't re-used passwords _anywhere_ - choose a password generation/storage solution that works across all your devices, and use it to generate unique strong passwords for everything. (1PassWord + DropBox works great for me across my MacOSX, iOS, Android, and Windows devices - I occasionally would like it on Linux too, but rarely enough that I'm satisfied to use my phone and re-type passwords in Linux)