Password Safe 2.11, 2.16 and 3.0BETA1 does not respect the configuration settings for locking the password database when certain dialogue windows are open, which might allow attackers with physical access to obtain the database contents.

PasswordSafe 3.0 beta, when running on Windows before XP, uses a weak random number generator (C++ rand function) during generation of the database encryption key, which makes it easier for attackers to decrypt the database and steal passwords by generating keys for all possible rand() seed values and conducting a known plaintext attack.

CounterPane PasswordSafe 1.x and 2.x allows local users to test possible encryption keys against a subset of the stored key data without performing the more expensive key derivation function (KDF) function, which reduces the search time in brute force attacks.

Password Safe 1.7(1) leaves cleartext passwords in memory when a user copies the password to the clipboard and minimizes Password Safe with the "Clear the password when minimized" and "Lock password database on minimize and prompt on restore" options enabled, which could allow an attacker with access to the memory (e.g. an administrator) to read the passwords.