>ie it possible in 60 second to crack all the gsm phone keys regardless of the encrption
>
This is because the GSM encryption is crap, which is due to design constraints from the time way back when the standard was written. The main reason to have encryption there at all is to keep honest people honest (the call routers have wiretap capability anyway) and to appease peoples privacy concerns (remember those unencrypted & analog cordless phones...)
The real joke is that in many places the LOS microwave links between the basestations are not encrypted...
Anyways proper cryptosystems are for all practical purposes uncrackable if the keys are lost. They will also often use multiple "session" of "file" keys encrypted with the master key, so cracking for example via a known plaintext (probably easy to find these on computer systems) the key for single file does not yield the master key for all files.
The master key is of course encrypted with your passphrase (since the key is just random bits it's a lot of work to verify if an attempt at the passphrase was correct or not [need to try to decrypt some files too])
Now the best approach is to have a way to destroy the master key (as outlined in the magic usb-fob) so there is not passphrase to attack and successfull attack against a single file will not help with the other files.