On my home desktop I had been using Pidgin (formerly Gaim) and Thunderbird without any password phishing agents like Gnome-Keyring (and Kwallet which never showed up). There is no use of a password phishing agent on a home desktop where you are the only user. But the problem surfaced in PCLinuxOS 2009.2 on which I started using Kmail and Kopete. Overall I was happy at the growth of both these KDE apps, except that kwallet phisher.
I remember right after the fresh installation of pclos 2009.2 I had removed kwallet, but when I fired up kopete and kmail, the kwallet started buzzing me to give a password. And there was no escape, I removed all that hidden kwallet craps and config files from my /home as well as /root directory. Again gave kopete a try, but kwallet came up adamantly and asked for password. Perhaps some kwallet daemon is running all the time.
Thank God! I finally found a fix to disable kwallet at OpenSuse forum.
If you want to disable the use of kwallet, edit ~/.kde/share/config/kwalletrc (if there is no file as kwalletrc create one). Delete all the text from that file and paste:
[Wallet]Save the file and reboot your system. Henceforth, kwallet phishing agent won't show up.