There are two major threats to a password manager:
- Breach - if the server doesn't store the key and data is encrypted, they'll have to break the crypto
- Client - if the client can be compromised, they can intercept password entry
The second is much harder to mitigate, but also much harder for an attacker to pull off since they need to compromise the update delivery chain.
Whatever client you use, make sure you trust the update mechanism.