I had an idea a little while back to have an ID card with a QR code on it that you kept in your wallet. When you want to access your passwords (view them directly), you need your ID card and to scan it with your password protected iPhone. This then reveals your desired passwords.
But I'm thinking about it more and it doesn't seem to offer any extra "security" or protection of your passwords. You have your phone password memorized, so that's secure. Once you get into your phone and open the customized QR reading password app, you could just have direct access to your passwords right there instead of having the QR code layer. But, say we add the QR code step, of scanning the QR code to get access. Maybe it only works on your phone. So you have your phone password and a QR code protecting your password.
Does something like this offer any extra security? I'm thinking along the lines of n-factor auth and having an actual physical ID card in the mix.