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Storing Passwords

I'm looking for a way for my mum to store her passwords (securely, but easily accessible for a novice PC user) [although this is also an excuse for me to store the many passwords that I've built up over the years]

I was wondering what methods people suggest for storing password and account info, such as...

Encrypted Word Doc / Spreadsheet
Text file zipped (encrypted)
PW storing Utility
Vague piece of paper...

and whether people recommend any "best practices" when storing passwords.

Obviously I realise that all of the above methods are only as strong as the "master" password, but wondering if anyone could offer any advice

I've come across PasswordSafe

Which seems to do what I want, but was wondering what others think / currently do???

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