A new and free app to manage your passwords on your Windows Phone 8 is out. The app named, Password Padlock is one stop solution for saving all your passwords securely.
You simply have to choose a single master password and it can encrypt all the other passwords using AES 256 encryption method. More importantly, the master password you choose is never stored.

If required, you can backup and restore the encrypted passwords to SkyDrive. The app can be downloaded from the Windows Store. It does not support ads and can even be launched via voice command.