The same binary executable is used for all three version of KeyPass: Free, Standard and Enterprise. By default, KeyPass runs in the "Free" mode with limits imposed on the number of database entries. The registration code sent to you after purchase converts the Free Edition of KeyPass to either the Standard or the Enterprise Edition.
Only the Enterprise Edition of KeyPass is able to make use of read-only passwords and security tags. You can create read-only passwords and define security tags using the Standard Edition, but you won't be able to use them i.e. they will be ignored.
When you use the Enterprise Edition of KeyPass, you will be able to login using the read-only passwords that you have defined, and the database will be filtered based on the security tags you have defined for that password.
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