Reinventing the wheel is always bad for a handful of reasons. There are only two open-source keyrings: gnome-keyring and KDE Wallet, and you'll have to choose one of them, or use a unified protocol (better), or add encryption as an optional component / recommended package (best). Other encryption solutions are proven to work poorly. For example, Eric Raymond's fetchmail didn't encrypt stored passwords at all, and that was intentional. You can read why he didn't add encryption support at http://catb.org/~esr/writings/homesteading/cathedral-bazaar/ar01s09.html
Reinventing the wheel is always bad for a handful of reasons. There are only two open-source keyrings: gnome-keyring and KDE Wallet, and you'll have to choose one of them, or use a unified protocol (better), or add encryption as an optional component / recommended package (best). Other encryption solutions are proven to work poorly. For example, Eric Raymond's fetchmail didn't encrypt stored passwords at all, and that was intentional. You can read why he didn't add encryption support at http:// catb.org/ ~esr/writings/ homesteading/ cathedral- bazaar/ ar01s09. html