Android word dictionary security issue

Whenever you type a word on an Android phone, the word gets remembered. This is a security issue when using things such as security questions/answers. Is there a way to turn this functionality off? So that, when you type a word, the word isn't stored anywhere.

P.S. I know that you can turn off 'word suggestions', i.e. by using the flag TYPE_TEXT_FLAG_NO_SUGGESTIONS. I've done this, however the words that you use still get stored in the background.

Thanks in advance

EDIT: This happens with custom keyboards such as AnySoftKeyboard, Swype and SwiftKey. Even though these keyboards are configurable to remember and store commonly used words - you want there to be exceptions for things like remembering your answer to security questions.

On Android 2.2+ you can use InputType.TYPE_TEXT_VARIATION_VISIBLE_PASSWORD to achieve the desired functionality on any security field. Despite this flag being available for older versions of Android (from Google API 3+), it seems to have no effect in Android 2.1 (API 7) and below.