Is excel + zip encryption good enough to protect your password file?

"Switch to a quality password manager which has been specifically designed to manage and protect your passwords. If you use Excel and WinZip, you risk leaving behind temporary files ... which, even if deleted could be recovered if not wiped securely. You're trusting in two tools not specifically designed for security plus covering your own tracks in order for your current system to work right!

Whereas, specially-designed password management software like KeePass (as you've mentioned) or Password Safe typically take additional measures to scrub memory, clipboard, etc. when they are closed, better protecting your passwords. Your unencrypted passwords shouldn't ever be on disk, even temporarily."