From: http://www.tomsguide.com/us/best-password-managers,review-3785.html

Cloud vs. Local Management
1Password and KeePass primarily store the user's "vault" of passwords and other sensitive information 
locally, i.e. on one of the user's own devices. There's a security advantage to that, as none of the 
data has to ever reach the internet, but it can be a hassle to synchronize the vault with other devices.
Far more convenient are cloud-based password managers, which include LastPass, Dashlane, Keeper and 
True Key. These services keep encrypted copies of your vault on their own servers and make sure all 
your devices are always synced.

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From: http://www.informationweek.com/security/encryption/security-fail-apple-ios-password-manager/232602738

  "Most people who develop password keepers, I believe they're very good programmers, but they need to study 
  security," said Elcomsoft's Dmitry Sklyarov.  The sole exception they found in testing a sample of popular 
  apps was Strip Lite, a free password manager from Zetetic.

From: http://getstrip.com/ IPhone, OSX, iPad Android, and Windows

http://cyberconsecurity.wordpress.com/2010/12/20/free-andor-open-source-tools-to-replace-popular-security-software-to-help-secure-your-home-or-business/

From: http://keepass.info/

KeePass is a free open source password manager, which helps you to manage your passwords in a 
secure way. You can put all your passwords in one database, which is locked with one master key 
or a key file. So you only have to remember one single master password or select the key file to 
unlock the whole database. The databases are encrypted using the best and most secure encryption 
algorithms currently known (AES and Twofish). For more information, see the features page. 

http://www.lifehack.org/articles/technology/10-free-ways-to-track-all-your-passwords.html