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It just isn't viable to have unique passwords on all the different sites that require some sort of login, even with password tools. What if you have something you have to check on a computer where you can't use the tool, maybe not a internet café, but rather at a friends house. Or what if the database is somehow compromised? I don't just use one password everywhere, but I have a few different ones I can remember, some more random than others. If you combine this with different emails used to register, it's difficult to use the info if it's leaked on another site. Until we get a real universal "internet identity", this is the only way I can imagine walking around the internet.
It's viable for me.

I'm at a friend's house and need to type my password into their computer? Never going to happen: they're likely not very good at securing their computer, and there's not a chance I'm going to risk compromising my password because I can't wait until I get home.

Besides: I have a smartphone with Chrome, I can use that.

I need all of my passwords with me? LastPass.

If you use a 100% portable tool like passwordcard, then you can use it on any computer.

Though someone may be able to get one password by keylogging, the remainder of your passwords are safe. Your own database can only be compromised by your own action.

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Just the one you worried about: you're entering your passphrase to decrypt your passwords into what is essentially an untrusted app.
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"What if you have something you have to check on a computer where you can't use the tool"

You pull out your smart phone with the synced keychain and manually type the password into the PC.

Oddly enough, that's precisely what I do.

I make minimal use (essentially none) of third-party computers outside my own laptop, personal desktop, work desktop, and phone.

I have key passwords on my phone (encrypted, KeePass).

I have a more comprehensive list on my laptop (and stashed in a few other places), GPG encrypted, dittos work system.

Works for me.