KeePass Password Safe
"KeePass (KeePass)":http://keepass.sourceforge.net/ is a *free* Password Management Software, which helps you to manage your passwords in a secure way. Like most Password Management Software, this too have a password generator. I have been using this since its early beta and I liked it, infact this is my ultimate Password Safe and use it day in and day out. It recently reached its "version 1.0 (version 1.0)":http://sourceforge.net/forum/forum.php?forum_id=471507 stable version.
KeePass allows you to put all your passwords in one database, which is locked with one master key or a key-disk. So you only have to remember one single master password or insert the key-disk to unlock the whole database. Besides many other "features (KeePass features)":http://keepass.sourceforge.net/features.php The databases are encrypted using AES and Twofish.