Indeed. That site doesn't even pretend to be secure!
There are versions of that site which do everything in Javascript so your password is never sent to the server. That is also insecure but at least they pretend that it is not.
This site is designed to post your password up to the server and even works on HTTP (as opposed to enforcing HTTPS only). So you've just shared your password, IP address, and browser information with a completely anonymous site!
PS - I think this site is DESIGNED to be Javascript only but the implementation is bad, so the password is in fact sent to their server (which generates an "Internal server error" by the way).
It might be more useful to use a long sentence passphrase for Windows/Exchange purposes.