A universal login could solve a lot of the issues around password security, from keylogging to the problem of users having their passwords discovered after writing them down.
It would also solve the problem of password-overload. Managing logins for all the Web sites that require registration is a pain, and any frequent Web user who says differently is either lying or has a photographic memory. Browsers have taken some of the pain away by remembering passwords for us, but clear your browser's history and suddenly you have to answer secret questions and email your username to yourself for umpteen different sites.
via readwriteweb.com
This article includes a handy chart that helps you generate secure passwords.