Yes and no. If you're in the Keychain.app a user expects security question for revealing passwords.
On the other hand: if you in a third party app you just click "allow" and the app can use that password. Let's read that again: an arbitrary third party app … has access … to a password … by just clicking a button. You have probably done this many times (if you're using a Mac), but without thinking much about it (convenience).
Obviously there must be a way so that everyone can write a little app, request and access a password with a single mouse click and then show it in plain text.
(Always under the assumption that the keychain is already unlocked.)
> On the other hand: if you in a third party app you just click "allow" and the app can use that password. Let's read that again: an arbitrary third party app … has access … to a password … by just clicking a button.
It's possible to require the master password for each password release, though that is not the default and — in 10.6 — it seems there is no way to enable this globally, it has to be set individually per password as far as I can see.
That's insane too then! as it suggests/teaches that keychain passwords are master password protected.