I am currently at high school, so I have my computer on a lot, and have people around me a lot. If I turn around for 10 seconds, they can easily (and already have) access ALL of my passwords in seconds. What's more, Google Chrome stores all of it's passwords in a text file, in plain text! Now I am aware that Chrome encrypts this file with your user account, but that doesn't stop someone who is using your account from looking at it.

People are saying that the odds of being 'Hacked' via the internet are far greater than someone using this to steal your passwords. This is simply not true. Unless you are on an open network, people cannot easily intercept information of a wireless network. If you are using WEP, and they hack you (which is highly unlikely), it's still hard to gather usable packets that contain user names and passwords. Hackers do not magically "Intercept" information over the internet. If you are connected to a secure website, that has any reasonable security system, and are using a good password, hacking your password is very, very hard. Over 90% of all stolen passwords are gathered trough social engineering, ie a fake email asking you to verify your user name and password.

Even if a master password isn't the most secure option for locking away your passwords, a person will still need a considerable amount of time to get your passwords, and it's much better than nothing.  Please Google, do something about that button!