Security has been such a hot topic lately, that I took the time to implement iCloud keychain, for every online account I can think of, and two-factor authentication, not just for Apple, but for Facebook, Dropbox, Twitter, and any other site that lets me do it.
I use 12-24 character, very complex passwords for every account...and keychain has been flawless across my iOS and Mac devices. The pain in the butt was setting up apps on iOS to take the passwords; which I was able to copy from the keychain under Safari settings into the app. Once set up, typically don't need to put them in again and again.
Like I said, a huge pain to set up, but now that it's in place, I feel much more secure.