Protection by closed source code, even if you use obfuscation, is futile. The best security is using either non-reversible hashing, or strong enough encryption that will take a lot of time to crack.
I use KeePassX for this exact reason: I have faith in running a security-related software that is audited by many people not related to each other and I can build myself. To use anything less for storing my passwords would feel very weird to me.