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I find password storage apps are one of the more useful applications to have on your phone, given the need these days for unique passwords for all our online accounts.
Sky Wallet is a new entry in the field, and offers the usual features, including strong data encryption, groups and categories, and also allows one to open URLs, send emails and dial phone calls directly from the info card.
One unique feature compared to the other apps we have written about before is that instead of using the ubiquitous Dropbox the software actually backs up user info to SkyDrive, a cloud storage account which all Windows phone 7 users of course already have by default. The developer is also working on a desktop client which will access the same storage, making data entry extremely easy.