The feature can remember website logins, credit card numbers and WiFi network information and sync them across all systems. It can also autofill credit card information.
Federighi noted that iCloud Keychain can also generate and recommend passwords for users and then the system will use that password, if the user chooses, from then on.
Back in April 2012, MacRumors noted that Apple had included strings in developer betas of Safari 5.2 hinting at secure password suggestions coming to Safari in OS X Mountain Lion. Apple did not, however, ultimatelyintroduce the feature for developer or public builds of Mountain Lion.