LastPass password manager stores your salted and encrypted master password on your computer. Your passwords are encrypted and salted and held in your user vault on their servers.
If you were watching the news, you will have seen back in June LastPass was compromised and they urged users to change their passwords. What was stolen was email addresses and hashed versions of some users’ passwords.
One can only wonder if the problems suffered in June are a reason they were willing to sell the company.
We can only wait and see what will happen to LastPass. There are not too many people happy with this change.