I suggest that when you update a Password that Firefox overwrites the old one. What it seems to do is make a new entry, while still keeping the old one, which creates a whole bunch of choices for the same username.
I think that should be an option to keep all passwords. It currently does that. I would rather it replace them when you hit Update rather than create a new entry every time. I often have to try 4 or 5x to pick the correct password.