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Parasitic said:

The whole concept of online password storing seems a little ridiculous...

If I was among the people that were paranoid about their info getting stolen, the last thing I'd do is be using something like this.

Did papers and pencils go out of style?!

In concept it may seem weird, but it can be done in a way that is very safe and with the convenience of the internet at the same time.

LastPass don't store anything online that hasn't been encrypted using your master password for the encryption key, so if you have a good master password, even if your data is stolen, it should be near impossible to decrypt your passwords without the master password.