DirectPass uses 256-bit encryption to secure your data and ensure that nobody can read it without your Master Password. Even Trend Micro does not keep a copy of it.
Trend Micro backs up and encrypts everything you save in DirectPass using your Trend Micro account. When you use your Trend Micro account to install DirectPass on another device, your DirectPass data will appear there automatically.
When your data changes, DirectPass can automatically synchronize all of your data on all of your devices. To access your encrypted data on those different devices, you must still provide your Master Password.
If you ever change your Master Password, then you must provide the new password manually everywhere you have installed DirectPass. This minor inconvenience actually helps maintain the security of DirectPass.