Re: your 1password vs email point, while they might both be single points of failure, in practice one's email is usually more vulnerable. Boyfriends, girlfriends, friends, etc, have occasional or accidental access to email for whatever reason (Bosco!). Especially on a smartphone. This kind of thing is much less likely, though of course still possible, for password managers. I don't know about 1password in particular, but the one I use has a 15 minute of inactivity (or upon sleep) timeout before the master pw is required again. The iPhone version requires a pin any time it loses and regains focus. And you can customize the settings to alleviate pretty much any level of paranoia.