When comparing GPG encrypted text file vs Password Safe, the Slant community recommends Password Safe for most people. In the question“What are the best offline password managers?” Password Safe is ranked 6th while GPG encrypted text file is ranked 10th. The most important reason people chose Password Safe is:
Password Safe has a portable versiona, PasswordSafe2Go. There is also PasswordSafe for U3 (still supported, but no longer available).
Ranked in these QuestionsQuestion Ranking
Pro Can be used with any system that understands text files
Text files are ubiquitous. They can be read across any modern platform and many obsolete one's.
Pro No dependencies
GnuPG does not depend on a reading program in order to be functional.
Pro Outstanding compatibility
GPG is standard on most operating systems, and is compatible with "too many to list". A GPG API is currently being developed for further integration.
Pro Uses symmetric key encryption to ensure that emails are secure
Symmetric key encryption not only protects emails from unauthorized access, but it ensures that the sender and receiver are legitimate.
Pro Free to use and modify
GPG does not use patented algorithms, so this service is free to use and modify without restrictions.
Password Safe has a portable versiona, PasswordSafe2Go.
There is also PasswordSafe for U3 (still supported, but no longer available).
Pro Completely offline
This does not save or synch with any server; no connection to any external server. There is no central server to hack, no network connection to sniff.
Pro Great user interface on Mac and iOS
Since the passwordSafe is essentially an open standard multiple people can use to develop apps. The http://pwsafe.info/ apps for Mac and iOS are really excellent (paid) management options.
Pro Anyone can verify the code since the software is open source
Anyone can review the code.
Con Requires knowledge of the command line
GnuPG requires technical knowledge, but their FAQ is incredibly helpful for people who want to get started.
Con Backups needed
You have to be diligent with your backups. You have to be careful when synching copies across your devices.
Con No official browser integration
No browser plugins available.