[nsanch]

Why can't the hosted service use an "encrypted file in the cloud" as its implementation? As long as it requires client-side code to do the decryption, the key stays in your head alone.

[anxrn]

I believe this is exactly how LastPass is implemented.

[mseebach]

Ugh, you're right. Well, then there's no discernible difference between LastPass and KeePass with the DB on Dropbox.