Golvellius: Valley of Doom
There is a password save feature in this game. At the beginning of each area, you can enter a cave where a woman tells you what the password is, but if you die in the course of your quest, the password will already be revealed. By entering this password, you will be able to begin the game from the opening of the valley (if you get that far) with all your possessions intact.
SEGA Master System