We've released FormIt 4.2.3 in order to fix some bugs and make it GDPR compliant. The earlier version, FormIt 3.0, was created to avoid issues with Mcrypt in the near future, since it will be deprecated in PHP 7.2. Mcrypt has therefore been replaced by OpenSSL encryption.
After updating to FormIt 3.0, you should refresh the page and notice a red bar on the top of your manager. From there, you can initiate the migration process, which will unencrypt your saved forms using Mcrypt and immediately encrypt it using OpenSSL.
It is highly recommended to migrate ASAP!