This is huge for WP sites considering the amount of exposure they get. WordPress is a massive targets for hackers, so removing something as simple as your password and adding an additional level of security is of utmost importance.
The installation was extremely simple, just follow the directions at https://launchkey.com/docs/plugins/wordpress and you'll never have to remember your password again!
I did this all within 15 minutes on a laptop while visiting with my parents and waiting for dinner to be completed. That even included updating my WordPress site, and updating my FTP password to install the plugin. (When can THAT be LaunchKey enabled?! ;))