First nice step. Lets see if it actually translates into something secure and useful.

Cloud based password manager? I some how don't think that a good idea, then again the push for cloud base everything continues

Cloud based is fine as long as the encryption happens locally and with a strong *personal* passphrase that is *unknown* to the cloud service. Main problem with many cloud services out there is that they don't allow you to encrypt your data with your own passphrase. Synology's HyperBackup allows to upload to various cloud servers with local and user controlled encryption, so let's see how they manage things to come. All those Adobe, Apple, Google, Exchange and whatnot clouds that suck up your pictures and files without allowing control over encryption are the problem.