Then again, how good is their "backend" protection, I understand those who will want to access, will access it, but I assume it offers the protection so that not every kid from Russia or China can hack it?
I don't use any "ONLINE" password manager. That's just asking for your shit to be stolen.
I use Keepass for Windows and KeepassX on Linux (Keepass for windows is part of the KeepassX project, but it enables auto-type). The database is stored on my computer. I keep the stored passwords in a network drive so I can access them on any computer in my network, then I'll dump an encrypted list every so often, if I'm going somewhere, into a text file on my dropbox and then unencrypt it when I need to view a password.
They say: Due to other countries laws, when you connect to any server that is not swedish we will store ip and timestamp logs of when you login and logout of our service for 30 days.
I use ibVPN and has the same privacy policy. I guess all VPN providers are storing ip and timestamp logs.