A nice feature enabled by default in Ubuntu 7.10 (Gutsy Gibbon) is the use of the libpam-gnome-keyring module.
Essentially what this means is that passwords and other information
stored in the Gnome Keyring are unlocked when you login.

This is especially handy if you connect to wireless networks, because the NetworkManager applet (nm-applet) stores the passphrase for accessing a network in the keyring.

I discovered a problem with this setup this morning however. If you
change your login password, the password for unlocking the keyring does
not change to the new password automatically. You need to change the
master password manually. A task that was surprisingly more complicated
than I expected.

After a lot of Internet searching, these are the steps I’ve come up with to change the master password for the keyring.

1. Download and install, either via synaptic or apt-get, the seahorse package. More information on this package is available at the Gnome Documentation Library;
2. Start the application by clicking on the following menus: System -> Preferences -> Encryption Preferences;
3. Click on the Gnome Keyring tab, on the far right, in the Encryption Preferences window;
4. Enter your old password into the ‘Original Master Password’ field;
5. Enter your new password into the ‘New Master Password’ field;
6. Re-enter your new password into the ‘Confirm Master Password’ field;
7. Click the ‘Apply’ button; and
8. Close the ‘Encryption Preferences’ window.

Next time you login the keyring will be automatically unlocked. This
is a solution that is a lot neater than deleting your keyring file and
making a new one, especially if you have a number of items stored in it.

I hope this procedure proves useful to others looking for a solution to this problem.

http://techxplorer.com/2007/10/28/changing-the-gnome-keyring-master-password/

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