I copied a version of the Password Generator on Eric's Password Generator to Famous Family - http://www.famousfamily.com/password.html. This is a handy way to generate multiple passwords for site based on a single master password. I put a copy on FamousFamily so we will always have access to the generator. I also suggest going to the original sight and adding the bookmark. Luckily we use FireFox and Safari - so the fact it doesn't work on IE doesn't matter.
The hard part will be converting all those passwords over time.