Due to the sensitive nature of the data Hyperpass handles, this is an important question for any user to ask. The fundamental policy Hyperpass is built on is that none of your sensitive data leaves your computer unless it is securely encrypted, and the key to unlocking it only lies with you. An encrypted version of your vault is stored on Hyperpass servers so that it can be synchronized across your devices, however, the master password required to unlock that vault will never leave your hands. Having encryption and decryption take place only on the user's end ensures that even if the Hyperpass servers were to be compromised, unwanted parties would not be able to access your sensitive data.
One advantage of Hyperpass over other solutions is that it is open source, meaning that the program code is available for anyone to see. There's no need to guess about functionality or rely on privacy statements - you can check the source code yourself and see exactly what is going on behind the scenes. If you're interested, please visit the Hyperpass GitHub page.