HP, used to have these on some laptops. Worked really well. As you say, the actual password is stored in a vault and you had to chose the site you were on.
Personally, while it sounds a good idea, It's only as secure as the vault. And also means people forget actual passwords as they use them less.
As to the person using it to access someone else's bank account... Tut Tut.
\_0-0_/ AdsL is Hell \_0-0_/
Wats SUP doc.... You using too much.....