If running on Windows, you could consider using win32crypt library. It allows storage and retrieval of protected data (keys, passwords) by the user that is running the script, thus passwords are never stored in clear text or obfuscated format in your code. I am not sure if there is an equivalent implementation for other platforms, so with the strict use of win32crypt your code is not portable.
I believe the module can be obtained here: http://timgolden.me.uk/pywin32-docs/win32crypt.html