This is an iOS native version of the SuperGenPass mobile code found at http://supergenpass.com/mobile
You can use SuperGenPass to create secure, unique passwords for every site you go to. Then it can just be copy/pasted wherever it is needed. SuperGenPass is usually used in your browser as a bookmarklet, but this native iOS version is good when you aren't using Safari. For example logging into your bank account using your bank's app.
Passwords are never stored on your device, or sent across the internet. Your SuperGenPass passwords are generated on the fly, on your phone, and based on a master password, a domain name and the base password size in characters (defaults to 10).
For more information about how the passwords are created, see http://supergenpass.com