2x "keyring package" -- see http://tarekziade.wordpress.com/2009/03/27/pycon-hallway-session-1-a-keyring.... The poorer one of these will probably be axed unless Tarek gives it strong support.
I don't think these are good "core" projects. Even if the students come up with a complete solution, it shouldn't be integrated with the standard library right away. Instead, it should have a life outside the standard library, and be considered for inclusion only if the user community wants it.
I'm also skeptical that this is a good SoC project in the first place. Coming up with a wrapper for, say, Apple Keychain, could be a good project. Coming up with a unifying API for all keychains is out of scope, IMO; various past attempts at unifying APIs have demonstrated that creating them is difficult, and might require writing a PEP (whose acceptance then might not happen within a summer).