Comment Shamir Secret Sharing (Score 1) 381
No one seems to have mentioned Shamir Secret Sharing yet.
You create a file with all your passwords, encrypt it with, say, pgp and use SSS to split the master password in several pieces. You then give a piece to each of your friends/family. When you need it back you ask for the pieces.
The beauty of this is that you can generate, say, 10 pieces, and set it up such as with any 5 or 6 pieces you can get the original back. Thus if some of your keepers lose their piece, you're still good to go.
For linux there's the ssss utility that takes care of this.