Can it be turned off ?
So yes. It's off by default. You have to affirmatively use the feature. (This is purely based on what I remember from the demo, mind you. I have not used the feature.)
If you use this app, open it and look at how many entries fall under the “security” section. Everyday another password is compromised and added to the list, just too many to keep up. So, albeit apprehensively, I for one appreciate this feature.