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If one does this though, REMEMBER TO PRINT IT OUT! It's no help to have all that data stored in a computer file when your computer dies!
I must say, for password management, I REALLY like Thunderbird and Firefox.
Thunderbird (similar but waaay better than outlook) has a password management section in which it display all your email ID's and passwords (you can chose to hide them if you have shonky roommates) and a built in LEARNING spam filter.
Firefox is Mozilla's browser and is sooo light. You can have a gazillion *tabs* open, rather than pages. Internet Explorer is a P.O.S after the recent updates they have done, nothing but trouble. Firefox will also manage your passwords , without giving away vital information.