No matter what you enter as your name and no matter what you enter as your master password, the app will open the screen with passwords.
If you look more closely at the displayed passwords, the passwords that show up when you enter your name and the correct master password do not match with the passwords when you enter your name with a different master password.
The passwords that display under the site names after you enter your chosen name and master password are simply calculated. They are calculated every time you enter a name and master password.
Your passwords are not saved they are calculated every time you login with the correct credentials. If you use the incorrect credentials the system will display passwords, but these will not be the same as yours :).
Please anyone correct me if I am wrong with how I understand this awesome system.