Storing passwords online

I have a lot of passwords laying around, and an equal number of usernames to match them. Keeping track of all this data is far from trivial. I used to have a text-editor with the option of saving files encrypted. I stored both the text-editor and my passwords on a USB-stick and carried it everywhere. This worked fine, untill I lost my stick. I ahve no idea where I lost it, but up to this moment, none of my accounts seem to be compromised. I am keeping my fingers crossed. Anyway, something had to be done.

I thought it would be handy to store my password online somewhere. That way, all I needed was a working internet connection to access them. And as I only needed the passwords to access stuff online, this was not a problem. I started looking for a suitable tool.

Not long thereafter I came across a PHP script called 'Online Key Manager', OKM for short. It seems to be made just for me. It uses PHP/MySQL, is easy to install, and is simple to use. No fancy bling-bling, just a password managing tool.

After reading the security warning the author left behind...

PLEASE NOTE Storing passwords online can be a security risk!
If you don't know how to protect your stuff, don't use Online Key Manager!
You have been warned.

...I plunged ahead and installed OKM. I made sure all the security features where in place and to this day, all seems well.