Also, even if some 3rd party looked at the code, it doesn't really matter because they are really transparent about the file storage format, there are even some open source cli tools to extract data. Also it is a fact that no data leaves your control. No server side storage or something like that.
I believe 1Password has a great model for a closed source password manager here.
KeePass had been really unreliable and I could not just trust it to store anything. Maybe I should give it another shot. LastPass and other "server side" storage services are not even an option for me though.
And If you don't really trust 1Password's encryption, it would be trivial to relocate data files within a trucrypt container or something. (I know this is somewhat ridiculous)
There is something to be said, I suppose, for "well if I sell my computer and forget to dd the drive / it gets stolen then it stops randoms from easily gaining access to my stuff". You then need to wonder if that's the only file you wouldn't want people being able to access. If it turns out that there is other stuff as well, perhaps encrypting your home directory is a smarter idea (I hear there isn't a massive performance hit these days)?
I have it running on OS X, Linux, Android and Windows, all at the same time, while singing changed across platforms with secure Web Dav based cloud storage. Took me 20 min to set up on all four devices.
As someone who had their passwords leaked by an attack against one of the largest commercial password safes just a few years ago (heard of pwnedlist or the LastPass beaches?) I have been happily using KeePass as amuch more secure FOSS alternative with equal (if not more) functionality ever since, without any hangups to speak of.
Even better, Keepass2 is included in the Ubuntu official repos. And it runs pretty well. Autotyping your password into other programs also works. I really like Keepass2.
sudo apt-get install keepass2
Good luck!We're currently moving our office over to KeepassX for our lists, also iOS clients, Windows and for a while I had it quite happily on my java feature-phone. (Entering the master password on the feature-phone was a bit fiddly though...)
Since it's open source, anybody can implement the client.
But when I tried keepass a few months ago (maybe a year) I wasn't able to get it running properly on the Mac. Half the UI was somehow missing.
I'm using a simple text file stored in a truecrypt drive.
EDIT: Apparently KeePass and KeePassX are different?
I did have trouble with it on OSX but the KeepassX client does ok.
I switched over to 1Password and never ran into these issues.
The only downer is that the Linux / mac builds don't support automatically locking, which is a pain. If I get time I'll look at submitting a patch
There are other good password managers (e.g. LastPass), but KeyPass is not one of them.
If you care about security enough to use a password safe you might as well also use an open source solution that has even a remote chance of having its code looked at by more people than the ones trying to sell it to you.
I mean, I know 1Password is all pretty and animated and things, but things like KeePass aren't so ugly as to be unusable.