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It is a free open-source password-manager based on a design by renowned security technologist Bruce Schneier and uses his strong, uncompromised 256-bit Twofish encryption.
There are versions/ports for Windows, Windows phone, Blackberry, iPhone, iPad, iPod, Mac, Android and Linux.
SpecsUpdate
Pros
Pro On-disk format is resilient against advanced attacks
In a 2012 paper by P. Gasti and K. B. Rasmussen of Uni of California examined various password managers and found that most of them use an on disk-format which is vulnerable to several kind of (advanced) attacks. Password Safe disk format was the only one resilient to all examined attack vectors.
Pro Supports Linux, Mac, Android, iOS, Windows XP, Vista, 7 and 8, Windows 10, and Windows 10 Mobile
Cons
Recommendations
Comments
Flagged Pros + Cons
Con Backups needed
You have to be diligent with your backups. You have to be careful when synching copies across your devices.
Con Deceptive marketing
Bruce Schneier designed Twofish, which is used by this program; it overall has nothing to do with him.
Con It has no real defence against password-stealing spyware like keyloggers and clipboard-spies
Out of Date Pros + Cons
Con Questionable security
Silently falls back on an extremely insecure random number generator, for one.