Setting this parameter to true creates a new keychain protected by either an asymmetric token stored on a smart card or by a password, depending on the log in type.

The default value is false.

Refer to Enable protected keychain for more information about the group policy that controls this parameter.

Note:   Changing the group policy setting for this parameter does not change the parameter's value in this file. The two are set independently, with the group policy setting taking priority.