Thanks for the informative responses, guys. You're the best!
Would it be a pretty accurate summary to say: keeping the decryption password in memory would work, as long as no one managed to gain root access?
Small follow-up question: If I wanted to avoid using Term::ReadKey, would the following code work for reading the password? Is Term::ReadKey in any way more secure? (I prefer to avoid installing additional modules where I can for the sake of portability, unless I absolutely need them.)
print "Password: ";
system('stty','-echo');
my $pw=<STDIN>;
system('stty','echo');
chomp($pw);
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