I kind of expected this feature to be there in some form, to stay ahead of the pack Apple needs to stay on top of this.  User's of HTC's Android smart phone which uses a Linux based OS with Google's power behind it, note that you can save passwords in the browser on that phone.

Apple needs to continuously evaluate the needs in its core apps and make sure the features are cutting edge and top notch, if other phones come out with some of these seemingly small but essential features for people, they will start losing their market to other phones.