How does it work?
So you don't have to remember five different iterations of "vneqpoihwef;jnds!" Master Password creates and stores all your super-secret codes behind one complicated “master password” you create on your own. Then, when you want to access your email/social media/bank account, just log into Master Password first and copy and paste your secure password into whatever account you need to access. Master Password is available for iPhone, Android, and the web — and the company just released a Mac app for OS X, so you can get access no matter what device you’re using.
Is there any downside?
Yes. First, if you forget your master password, you’re pretty screwed. Similarly, if someone figures out what your master password is, they then have access to everything. So, along with using a secure password, we also recommend enabling two-step verification on your accounts. This means you'll get a secret, numerical code via text whenever you try to log in, and you’ll have to input that code into the site along with your password. That way, for someone to hack your Master Password account, they’ll have to steal your password and your phone.