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So this is just a funny thing right. It’s not really useful for anything?

I mean, I could see myself using this as a way to store a string somewhere for later.

But someone else can just overwrite it anytime without you realising?

Correct.

use an unguessable string as your key. make it as safe as a password and it might as well be one.

It depends.

Unless the author took preventive measures to prevent this, key lookups tend to be vulnerable to timing attacks, for example.

I use a plain text file for this.