Password keepers

["Slocum, Stacy" <sslocum () SJFC EDU>]

Hello-

Could anyone share a best practice with regard to the storage and safe keeping of the collection of all system 
passwords?  Is using a keepass type application the best approach?  What about redundancy in the event you can't get to 
the stored list or it is corrupt?

Any advice and/or opinions would be very helpful.

Thanks
Stacy