Yes, it works exactly as advertised and it's free. But it's very well-designed.

I have a problem with the button labeled "+KeyChain"[sic] and this represents one of the fundamental issues between programmers and users. App writers need to dumb their stuff down to the level of the average user or their work is wasted on a niche that probably doesn't need their work.
The Macintosh Keychain, cool as it is, can be fatally dangerous in the wrong hands. This button merely adds the generated character string to your Keychain as an unassigned password. What's the average user going to do with that?

There is no need for a slider to choose the number of characters in the generated password. Not quite enough control for me, I need to be able to lock out or include certain characters.

david