I've been doing basically this for many years now.

Each password file is AES-encrypted with my master password.

I copy the whole vault around between machines with rsync.

When I run 'password bank' a shell script searches ~/private/Passwords for files that contain ‘bank’ and offers a menu, then gpg-decrypts the file I selected.

I also use this for scans of my passport, recording my bank account numbers, and anything else I want to keep around.

I thought I was the only one, and now I've found out there are thousands of us!