Windows Live Messenger requires your actual password to log in too,

What I meant was that to log into OE you could have another password to access the settings for specific accounts - the account password was stored so you weren't typing it every time. This avoided keylogging attacks. I realise that you can do this with WLM too.

In reply to a post by GeoffB:

What I meant was that to log into OE you could have another password to access the settings for specific accounts

Where in OE (or WLM)? I don't see one.