Password Safe and Password Gorilla are both programs to manage passwords. Both store a list of user passwords in a file, which is encrypted using a master password. They use the same file format, so you can alternate between the two, using the same file, as Joel Spolsky recommended.
Password Safe was created by Bruce Schneier, who said the following about it:
Password Safe protects passwords with the Twofish encryption algorithm, a fast, free alternative to DES.
Although I respect Schneier, the "fast" encryption part gives me pause. I want it to be very difficult to brute force my password file, so I want the decryption be relatively slow.
I think that Password Safe now supports something like the work factor of bcrypt, but if I'm going to use the Spolsky method of sharing my file between computers with Dropbox, I want to be very sure that, if it fell into the wrong hands, nobody would be able to brute force it.
Assuming I've chosen a complex password, how secure is the encryption on these files?