I just found version 1.02 will cause password entry display issue. For that reason, I removed it from Apple store. Version 1.03 has been submitted to fix this problem, and it is currently under review.
The display issue cannot be fixed on iPhone OS 3.0. So version 1.03 will only for OS 3.1. I apologize for this display problem.
Update: Version 1.03 is available now. The only feature added is to hide/show password with the edit button.