If you are comfortable with the cloud fully, then use LastPass to manage your passwords.
If you trust the cloud partially, then use KeePass or 1Password with its database files in your Dropbox location.
If you don't trust the cloud,use the combo of KeePass and TrueCrypt and USB drive to have access to passwords wherever you are.
If you don't trust the cloud and you don't feel carrying a USB drive with your passwords even though they are double encrypted, then you can use a combination of KeePass and TrueCrypt on your local hard-drive. This option is very safe, but it does not allow you to have access to your passwords when you are on the road unless you carry the laptop with you.
You need to pick the one that fits you best. It may not be a password management tool that I listed above, but please pick a tool of your choice that has respectable encryption algorithms. This is much better than using the same password for multiple accounts on internet.
Pick a tool that has some form of two-factor authentication. LastPass offers two factor authentication. KeePass and 1Password do not offer direct two-factor authentication. If you are really concerned, you can take care of it using the combination of KeePass and TrueCrypt to introduce two levels of security.
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