Simple password manager without any proprietary/closed formats. Passwords are kept in gpg-encrypted text files.
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Pro Ultra portable
As it has both Git support and encrypts passwords to GPG-encrypted text files, it is really simple to access everywhere. You can either use a self-hosted or a personal cloud hosted Git repository. It is automatically being kept up-to-date. Clients for pretty much everything and a really active community. Even if you can't run a client you will still be able to access the password by decrypting them from the Git store.
Pro Works in command line
And is basically just a bunch of GPG-encrypted files stored in a folder.
Pro Free and open source
Pro Full control
You are not forced to rely on any other service provider than yourself. Like saving them on a remote server as in the case of LastPass. You don't have to extend your trust (to LastPass or any other provider).
Pro Has cross platform GUI clients
It has a Qt-based GUI, an Android and iOS app, a Firefox plugin, a Golang GUI app, an interactive CUI, a dmenu script, OS X integration, and also an Emacs package.
Pro Not using a database
It doesn't use a database like, for example, KeePass and thus doesn't open all passwords at once. Just one at a time.
Pro Uses standard components
As GPG and Git are widely used, it relies on thoroughly tested and secure functionality.
Pro Scripts for importing passwords from different services
Pro Multi user suppport
You and your team can share a repo and different subtrees can be encrypted for different sets of GPG ids.
Pro Allows storing password history
You can version-control the encrypted files using Git, which allows you to track all changes done.
Pro Support for extra functionality via plugins
For example the plugin "pass-extension-tail" makes it possible to only display the non-password parts of a password file, like the username or the name of the service the password is needed for, and without showing the password.
Pro Adheres to Unix philosophy
Does one thing and does it well.
Con Not super user friendly
Might be a little too low-level (even with GUIs) for some teams of users.
Con Exposes the names of the sites
By default each file is named 'google.com.gpg' - so someone who steals your password directory would know every site you have accounts on.
Can be mitigated with plugins like Tomb, but a noteworthy caveat.