That´s it. As far as i could see it´s not safe seeing that anybody who wants can rename it to txt and get the password. It´ll be like having a vault with the key hanging on a hook beside it. Maybe if a body wants to code it to VB or C/C++ and compile it, it might have a positive effect. Anyway, even if you compile it you´ll have to protect it to prevent somebody from cracking it(if it is possible) using Olly or Hackman and get the password. Of course, somebody who take the time for doing all that is really too nosy.
So, just to add one more, there is a folder protect called Password Folder Protect
. It´s not free and i tried it once. Anyway, if you´re trying to protect sensitive business/industrial infos i suggest you finding more suitable softwares.