Once its on your phone, it can just screenshot things if nothing else.
The other thing it does is with a tap and waiting for the same random number of ticks is to copy the value to the clipboard so that I can paste it into a browser.
Not perfect but its a version 1 at least.
It's the most recommended password manager on Hacker News.
Beyond what I described above, I need something that works on Windows and Windows Phone, and I need it to securely sync between the two.
[0] http://android.stackexchange.com/questions/10930/why-do-we-n...
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Using hardware partners
Now we get into the solutions which require commercial action.
Talking to the Android chipset makers often presents a solution. Since they design the hardware, they have access to the framebuffer - and they often are able to provide libraries which entirely avoid the Android permissions model by simply accessing their custom kernel drivers directly.
If you're aiming at a specific phone model, this is often a good way forward. Of course, the odds are you'll need to cooperate with the phone maker as well as the silicon manufacturer.
Sometimes this can provide outstanding results. For example I have heard it's possible on some hardware to pipe the phone hardware framebuffer directly into the phone hardware H.264 video encoder, and retrieve a pre-encoded video stream of whatever is on the phone screen. Outstanding. (Unfortunately, I only know this is possible on TI OMAP chips, which are gradually withdrawing from the phone market3).
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Probably not something an average crapware author can do, but certainly within reach of the NSA.
If it can't run, how can it screenshot things?