You should have a unique, secure password for every website you have an account on, but remembering a different password for every site is almost impossible.
A lot of people rely, thus, on password manager software to store their passwords. Usually, these software store passwords by encrypting them, and protecting them by a master password. Just enter the master password, and you have access to all the passwords.
The free web app generates your password by mashing together your secret password and the name of the website.
All passwords are generated by using hash of the secret password mashed with the hash of the website using SHA-1 encryption. If someone finds out one of your passwords, they cannot “work backwards” to discover your secret password.
Every time you enter your secret password and a web address, Password Chameleon generates the same password.
One issue that I felt was is case of multiple accounts on the same website. In that case, you would be required to use a different secret password for every account, or else the same password will be generated every time.
While the web version of Password Chameleon is free to use, their Android and Windows Phone apps can be bought for as little as $2.