I have read into the keychain and have found that it uses Triple DES. What I can't find is what keying option it uses. I am guessing / hoping that its keying option 1 where all 3 passwords are unique but if thats the case I can only think of two passwords it can use (user password and App ID that comes from your dev cert) so where is the third coming from? Is it a key private to Apple?

If its keying option 2 (first and third key are the same) it might not be secure enough for our company to rely on. Although that might sound paranoid I have to justify to our security department that it is secure enough.