Different Profiles/Identities, LastPass does this feature very well.

Preferable it would work like this :

You have the main one with all your bookmarks then have a different profiles/identity, say.. work and home that you can easly switch back and forth from, optionally you have an option to fill in password everytime they switch, maybe with a "don't ask me for password for the next x amount of mins". You can add Groups and or categories to different profiles..