I've recently committed r50475 which adds a new flag,
--password-store, that lets you request GNOME Keyring or (KDE) KWallet
instead of the built-in unencrypted password store.
There are three possible values:
--password-store=detect (this will eventually be the default)
For now, without the flag, we will continue to use the built-in
unencrypted store. With the flag, we will now try to use the requested
store (or autodetect one, and use that) to store passwords, and we
will migrate existing passwords to this store. This requires GNOME
Keyring > 2.22 (which rules out Ubuntu 8.04) or KDE 4. In the event of
failure to initialize the encrypted store, we fall back on the
If you'd like to give it a try, you might want to back up your
existing password store, just in case something goes wrong. It's
stored in ~/.config/chromium/Default/Login\ Data (or google-chrome for
branded builds, once one of those includes this change).