The way it is now, as soon as i type the first letter of the license the whole license appear from a prior use. I know i can set my browser not to remember what has been entered in form fields. But for the average consumer may be a little more trivial. Also if someone use the License Lounge in a shared machine, then someone may potentially be able to snag it.

It also makes sense, since in this case, the license key is used as a password to access a protected area.
Ok there you have my 2 cents