Keychain can also be used for secure storage of non-browser passwords and other info you want to keep secure. You'd open and log into Keychain Access, and use the "+" to add new info.
It's not as easy to use as the paid apps, but the price is right.
If you're talking about the Acrylic's "Wallet" I would not suggest using it since it is more or less no longer being updated by the developer (he now works for Facebook). At the very least I wouldn't suggest moving to it over the many alternatives that are still being actively developed every day.
We see a lot of customers of ours who are moving away from Wallet and it's a bit of a pain to do.