Password generation/storage scheme
For the sake of this answer I shall suppose that the domain of "somesite.com" is used as the salt to some password-based key derivation function.

Now this has the usual problems of deterministic password managers: As soon as one site is breached, you need a different password for that site meaning either the site needs to change their URL (unlikely) or you need to remember an additional piece of information to derive the password for this particular site or you need to change your master password which will also force you to change passwords on all other sites you use, including those you no longer remember you actively use but still do from time to time where you're locked out with the new master password.

If you want more information why deterministic password management might not be a smart idea, have a look at this blog post.