That both does and doesn't help. There is the format, which looks sensible. There are the protocols around it, key generation, salt generation, overall design,

That both does and doesn't help. There is the format, which looks sensible. There are the protocols around it, key generation, salt generation, overall design, etc. which are not. What actually scares me about the design is if my machine is compromised, an attacker can grab my Password Safe file (plus keylogs or whatever) and has access to all of my passwords. The design seems not very robust at a designs+protocols level. (In contrast, right now, if a machine is compromised, it only compromises the passwords I've used from that machine).