iCloud Keychain was announced at the 2013 Apple Worldwide Developers Conference (WWDC), to be released as part of iOS 7 and OS X Mavericks (version 10.9). It was not released with the initial release of iOS 7, instead being added with the release of iOS 7.0.3 and OS X Mavericks following Apple's October 22, 2013 event. It re-introduces the old MobileMe Keychain syncing function that was removed with the initial release of iCloud in 2011, but now renamed iCloud Keychain.
It functions as a secure database that allows information including a user's website login passwords, Wi-Fi network passwords, credit/debit card management (though without CVV), and other account data, to be securely stored for quick access and auto-fill on webpages and elsewhere when the user needs instant access to them. They are always stored encrypted using 256-bit AES encryption, are stored on device and pushed from iCloud between devices, and only available on a user's trusted devices.
The service can also suggest new longer and more secure passwords to the user, if and when required. It will only be available for use on Apple platforms, and even more specifically, when using inside a browser, will only work with Safari browser on iOS 7.0.3 and OS X Mavericks (version 10.9) onwards.
Video Keychain (Apple)/iCloud Keychain
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Source of article : Wikipedia