I was apprehensive to use 1password when I got it as part of a bundle - but after reading about it I gave it a try. It's now one of those tools that I wouldn't want to be without. A master password is set to access all stored passwords. There's plugins for all the main browsers so access to user/password combos is quick and easy.
You can also store secure notes, app serials, banking details, personal details.
If I were to be critical it would be nice to be able to generate passwords from within the app - sometimes I want a password that isn't web related. Also I think the list price is high.