What is the primary purpose of novault? Is it safe to use? Is the tool meant to be used just Monero or does it had wider applications?
According to its GitHub description:
novault is a command-line utility and Python module for generating passwords and cryptocurrency wallets from a combination of a description and a master password. The description and master password are hashed, generating a pseudo-random seed which is then formatted as a password or wallet keys/address.
There is no official connection between Novault and Monero but the first two currencies supported are Bitcoin and Monero. The author accepts donations in Monero and stated in the tools r/monero announcement:
My main motivation to develop novault started with my use of Monero, but since this is not a purely-Monero tool I opened a subreddit at /r/novault. You are welcome to comment to this post or open new ones in /r/novault.
Since this tool is not an official Monero project a review of its safety is outside of the scope of this Stack Exchange. Having said that at least one Monero core developer, Riccardo Spagni has expressed interest in it. Users can review the source code and make their own conclusion.