That really wasn't very high on my priority list to be honest with you, but I'll look into it if it's a game stopper.
The way authentication currently works is by comparing your HIVE's public key with the public key that your private key produces. This is all done locally on your machine, which means that your password never leaves your computer.
Many of us more computer illiterate types do like the keychain option.
This way we only trust one dev group with our keys, and not as many as apps we want to use.