I agree with the author's opinion with the master password being compromised, you're done. I have found an elegant solution for managing my passwords with http:

I agree with the author's opinion with the master password being compromised, you're done. I have found an elegant solution for managing my passwords with http://masterpasswordapp.com/ http://masterpasswordapp.com/ the iOS app is a breeze and I also use the export feature to backup my login names, hashed passwords, custom passwords, and stored secrets. This app in particular solves the author's third point. For the second point, I save the iteration X of a password as a stored secret when I need to revoke a password. It doesn't sacrifice the user experience in my opinion.