[1] http://askubuntu.com/questions/32164/what-does-a-keyring-do
[2] http://askubuntu.com/questions/184266/what-is-unlock-keyring-and-how-do-i-get-rid-of-it
[3]
how-to-recover-reset-forgotten-gnome-keyring-password/65294#65294
Installed seahorse and reset/change keyring password. [3]
The big idea here is that if someone else were to access your PC and
did not know the master password to your keyring, they could not access
your stored login information. The same principle is put to use by
lastpass.com's addon for your browser. (only it's distributed, meaning I
can use it on several instances of browsers across PC's)
In summary, I offer this snippet from the gnome-keyring page
located here
GNOME Keyring is a collection of components in GNOME that store
secrets, passwords, keys, certificates and make them available to
applications.
GNOME Keyring is integrated with the user's login, so that their
secret storage can be unlocked when the user logins into their
session.
GNOME Keyring is based around a standard called PKCS#11, which is a
standard way for applications to manage certificates and keys on smart
cards or secure storage.