title: How to securely store credentials (password) in Android application?
body: <p>I want to store the password used for signing in a financial application that I am developing at a secure place. After doing some net surfing I found following options but each of them has certain drawback.</p>
  
  <p><strong>1) KeyChain.</strong><br/> 
  Only available in OS version 4.</p>
  
  <p><strong>2) Shared Preferences.</strong><br/>
  It stores data in plain text even though if I encrypt the data then the encryption key can be compromised by decompiling the application code.</p>
  
  <p><strong>3)  Access keystore daemon and store credentials in it.</strong><br/>
  (<a href="http://nelenkov.blogspot.com/2012/05/storing-application-secrets-in-androids.html">http://nelenkov.blogspot.com/2012/05/storing-application-secrets-in-androids.html</a>)
  Requires another password to remember.</p>
  
  <p>Please suggest me a better way to secure credential information in android application like IPhone KeyChain.</p>