Just found out some software that does this.
http://keepass.info/
http://1passwd.com/screen_shots
http://www.snapfiles.com/screenshots/pwagentlite.htm

The complexity gets added.
The layout will be: a top and bottom section. Top will be split: left gets a list of categories(folder) and right gets the list of all the items in the current category. (layout like this: Passwoed Corral)

The bottom portion allows for changing of info, changing of category (from drop down menu), “generape password” button besides password field, (like this Access Manager)

I like the option to create a password, and allow choice as to what characters are allowed in the creation of a secure password.

When password is created or entered, remember the date, and allow an expiry date for the password (days to live)?.