For a project I'm working on I'm investigating the security of storing secrets in the keychain. This is technically relatively straightforward, but I'm curious about the security of these secrets once a phone is jailbroken.

From the documentation (at Loading…) I gather:

"In iOS, an application always has access to its own keychain items and does not have access to any other application’s items. The system generates its own password for the keychain, and stores the key on the device in such a way that it is not accessible to any application"

I have trouble finding out what exactly the 'in such a way that it is not accessible to any application' means, especially in light of a jailbreak. Is it possible on a jailbroken iphone to retrieve this password and gain access to any application's keychain?