I had a dinner with some friends today, and I mentioned that I use 1Password combined with Dropbox to manage my password. One of them then remarked something which I actually hadn't considered: because both my Dropbox password and the password for the email address I use for recovery are also in the vault and completely random, I have no way of recovering from a catastrophic failure where all the local copies of my vault become unusable.
Now, I do have the possibility of resetting my recovery email password, but that requires me to be connected from my home network, and I might not have that luxury. The obvious answer is an offsite backup, but I'm unsure where to place that. My instinct is to share the vault folder with someone I can trust via dropbox, but that could increase the chance of a compromise, and without the enhanced permissions from Premium Dropbox, there's a chance of vault corruption on my end. There are solutions like a notary or a bank safe, but those are not cheap, plus it's still something that might be compromised.
I am unsure of how to solve this issue affordably. It might never happen, but all it takes is a fire in my bedroom while I'm downstairs that destroys my phone, my laptop and my desktop to put me in deep trouble. How can I recover my password vault if all my local copies have been lost and the only copy left is on my dropbox, which i can't access without my password vault?