I want to store the password used for signing in a financial application that I am developing at a secure place. After doing some net surfing I found following options but each of them has certain drawback.

**1) KeyChain.**  

Only available in OS version 4.

**2) Shared Preferences.**  

It stores data in plain text even though if I encrypt the data then the encryption key can be compromised by decompiling the application code.

**3) Access keystore daemon and store credentials in it.**  

(<http://nelenkov.blogspot.com/2012/05/storing-application-secrets-in-androids.html>)
Requires another password to remember.

Please suggest me a better way to secure credential information in android application like IPhone KeyChain.