AgileBits recognized that problem and included a Demo Mode in the new 1Password 4 for iOS. This lets you show off a sample library without putting any of your personal information at risk.
To enable Demo Mode, go to Settings > Advanced in 1Password and flip the Demo Mode switch. The next time you want to show off 1Password, enter ‘demo’ as the master password and it will load up the sample library instead of your own.
Disclaimer: I previously worked for AgileBits but was not involved in 1Password 4’s development.