Websites get hacked all the time, using a password manager allows you to create a unique hard to guess password for each one of your accounts without having to remembering it. Password managers will help you to secure your digital life and they also save you time by automatically entering your username and password into websites.
LastPass performs the encryption in your browser and then sends the information using Secure Sockets Layer (SSL) to their encrypted servers, the only possible vulnerability I see would if a flaw was discovered in LastPass encryption method and someone managed to carry out a man-in-the-middle attack.
When it comes to finances I rather not to run unnecessary risks, and I see no reason at all why my passwords should be stored online, I decided to export all of my LastPass passwords to KeePass, a free open source desktop password manager.
Whatever password manager you use, one thing I have noticed is that all of them make it very easy for you to import passwords from another application and do not supply the same facility to move out somewhere else.
How to import LastPass passwords into KeePass
First of all export LastPass passwords, do not do this by clicking the export button in your account, this will only convert your passwords into clear text in your browser. To export LastPass passwords for KeePass you want a CSV file, file click on LastPass browser icon, go to Tools>Export to>LastPass CSV file.
To import LastPass CSV passwords into KeePass go to File>Import>Generic CSV file, this will import all of LastPass passwords, the only drawback I noticed is that the notes do not get imported properly, you will have to clean it up afterwards if you have notes below your passwords, they will be imported using separate entries.
How to import LastPass passwords in StickyPasswords
StickyPassword (a premium password manager) has an option to import LastPass passwords but thisdid not work for me and I kept getting an error message, I had to use a work around.
Go to LastPass icon in your browser click on Tools>Export to>Firefox, you will get a warning that this exports all of your passwords to FireFox browser in plain text, ignore the warning and export everything.
Using StickyPassword now use the Import>Mozilla Firefox passwords and everything should work, make sure to erase all of Firefox passwords when you are done! Firefox>Options>(click Security tab on top)>Saved passwords>Remove All
Linux LastPass & KeePass users
If you are using Linux as your main operating system, there is an utility called LastPass2KeePass to export all of your LastPass passwords into KeePass XML import.