[garblegarble]

Well, it'd be encrypted with my login password as part of Keychain password storage under OS X (and with my device key + unlock code under iOS) so at rest it's still going to be fairly secure.

But, as I said, I don't use password managers for passwords that are really important, I use them for the bulk of online services where I'd like to use a different random username/e-mail & password for each.