A quick search on the internet shows a ton of websites that have been hacked, with passwords compromised. Big names such as; Yahoo, Adobe, Kickstarter, Snapchat, and even more with key logging software. If you use one main password then your weakest link could be a website's security.
I have been using the same main password since 7th grade. Yes I have been an idiot. It was even a common word. I have not been wise with my data and honestly, my client’s privacy. That all has changed in the past month when I started using Lastpass.com to store and create my passwords for free.
Lastpass integrates with your browser, and for the most part runs seamlessly. It has a master password to secure all your data. On my iphone the app allows me to copy my password and paste in password fields. The iPhone app is $12 a year, so unfortunately they do stick you with that one.
Lastpass also has a built in password generator which I have been using to change my passwords on multiple different sites. It automatically generates a password and then stores it for use next time. My goal is to have a different password for every website in the next couple of months, and only that long because it takes a while to go in and change them.
Lastpass also has a feature that helps you fill out forms quickly. You can store several forms, notes and even credit card information, though this could be something to avoid.
Of course everything ultimately hinges on the strength of your Lastpass password itself. If it is something simple or common and is cracked by a hacker, then they would have access to everything. If this is a huge concern to you, you can buy an usb key that has to be in the computer to use Lastpass. Think of it as another layer of protection.
Overall I have been very good at remembering my passwords; however, sometimes there are websites that do not allow me to use my typical password. They often force me to add a special character that I normally do not use, and so I forget these all the time. With Lastpass I will always have that obscure password I use 4 times a year that has to have two capitol letters and a plus sign: problem solved.
Before I really dug into password mangers I thought they were for old people, but after spending a month with Lastpass my view has changed. Certainly don't feel like you should be tied down to Lastpass, there are several others out there. Keepass stores all your passwords in a database located on your computer, which to some could be the most secure.