In iOS version 5.3, I have a hard time editing the password. When I edit the password in a record, the password is obscured with bullet points. I can reveal the password below, but I can't edit the revealed password directly. Instead, I can attempt to edit the obscured password while seeing the effect on the revealed password. This is different in Mac OS X where I can edit the password directly rather than editing an obscured field. In 4.x (and maybe earlier 5.x versions) I could also edit the password field directly.
Editing the password field is important. Sometimes a generated password contains a character not allowed in a site's password. There are also times when I need to manually type in a password, and I like to hyphenate my password to make it easier to manually type in. Which brings us to a feature request: In Mac OS X, when you generate a password, you can select a separator (like hyphens). I would like the same feature in the iOS version.