I just wrote a user license key and corresponding email address in a file in "~ / Library / Application Support / MyApplication / License.myApplicationlicense". I think this is better than using NSUserDefaults, because the user will expect to be able to toss their privileges without having anything dramatic, like re-registering their application.
A file is simply NSDictionary content written using writeToFile: atomically: and read using the dictionaryWithContentsOfFile :. The content is not encrypted, but this is usually not important depending on how your licensing scheme works.
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