One of the most popular commercial programs in this rubric is RoboForm, which has a no-install, USB-key-friendly version called RoboForm2Go. It's mainly used to fill in Web forms, including passwords, but packs in a bundle of other useful and allied features (like only filling in passwords on sites that have the proper domain name, to prevent phishing attacks). There's even a version of RoboForm2Go preinstalled on a USB key.
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Another password manager that also works from a USB drive, KeePass, is both free and open-source, and sports one of the best feature sets of any program I've encountered in this space. (KeePass is one of the applications in the PortableApps.com suite.) Passwords can be organizationally grouped, automatically typed into form fields, and cleaned from the clipboard immediately after being pasted. The entire password database is AES-256 encrypted, and password data is kept encrypted in memory whenever possible to prevent snooping by other applications. There's even a plugin architecture; one of the available plugins for the 2.x version of the program lets you import passwords stored in Firefox.
One final suggestion involves something that isn't strictly speaking a program and is really only useful for Web sites, but is still worth discussing here. Chris Zarate's Genpass, now renamed SuperGenPass, creates a JavaScript "bookmarklet" -- a piece of code that runs from a bookmark in your browser -- which automatically supplies passwords for every Web site you visit by cryptographically deriving them from a single master password.
If you have a mobile copy of Firefox, you can install it there and use it as a password generator-to-go, or simply run it from a locally-saved copy of a Web page. For security's sake, you might want to set up Genpass so that you'll need to supply your master password each time it's used. Still, if you're reasonably confident no one else will be able to get to it (for instance, if you have the bookmarklet stored in an encrypted volume), you can hard-encode the password into it.
Synchronize Data Between Computers
If you're dealing with more than a few documents at a time, keeping the data on a USB drive synchronized across multiple machines is a bit of a hassle.
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