GNOME Keyring is a daemon application designed to take care of the user's security credentials, such as user names and passwords. The sensitive data is encrypted and stored in a keyring file in the user's home folder. The default keyring uses the login password for encryption, so users don't need to remember yet another password.
GNOME Keyring is implemented as a daemon and uses the process name gnome-keyring-daemon. Applications can store and request passwords by using the libgnome-keyringlibrary.