A combination key lock box comprising a body housing has a storage compartment 22, and cover, which has holes to receive the toe of a shackle and the heel of the shackle. A plurality of protrusions 43 on the shackle heel 41 correspond with a plurality of rotary dials 50 and inner clutches/sleeves 80; each clutch or sleeve having a unlock slot 81 permitting passage of the shackle protrusion when aligned with the slot and a plurality of faulty or dummy notches or shallow grooves 82 which block the shackle protrusions and prevent a user from sensing the correct combination by feel. In the locked position the faulty notches engage the shackle and prevent rotation of the dials; the shackle is preferably spring biased 100 into the extended unlocked position, clutches also spring biased 120 upward to engage the shackle; the shackle requiring a slight depression to disengage the clutches and allow the dials to be rotated. A combination reset may be provided to allow the fin 83 of the clutches to completely disengage with the teeth in the dials allowing the combination to be changed.