There is a command line client too, and the entire website is open source (links at bottom.)

If you're worried about not trusting anyone, then you would need to set up your own solution - but for most people thats completely out of their league. This is intended for people who would be typing their master password in different websites, and now instead only need to type their master password into one.

I can't argue against the problem of only having one password, but the small set never worked for me. I have a couple plans to integrate password migration into password.ly.