LastPass is cloud based password management system. One advantage of LastPass over other password is that the data is available on any computer with an internet connection. There is an add-in/extension for each of the major browsers. Alternatives like Keepass are good but access to the data either requires a flash drive or some type of online storage access like Dropbox. The browser extensions allow autofill and autologin options that make life simpler.
As usual the major concern about storing passwords on the internet is “will the data be secure”. The Security Now Podcast about LastPass with security expert Steve Gibson goes into detail about how the data is encrypted on the local computer and always transmitted and stored in encrypted format. All this means you just need to remember one strong password word and use LastPass to create long random strings for your other passwords and use the browser extensions to autofill them.
As well as describing how your data is secure in LastPass, Steve describes what a good password is. He recommends using 10 character passwords containing uppercase letters, lowercase letters, and digits. The justification is below from the show notes, http://wiki.twit.tv/wiki/Security_Now_256:
This also makes entering the passwords on Mobile phone easier as well since there are no special characters.
The best part is that LastPass is free except if you want to use their mobile applications and select few other features that can be found at LastPass Premium.
There is also a way to view the data offline with LastPass pocket and to export the data to a csv file just in case LastPass goes out of business or you just want to backup the data yourself. If you plan to export all your passwords to CSV you might want to store that file using TrueCrypt, a subject for a latter post.