This is not possible for now. You can use one and the same application-specific password for more than one App/Service, which in essence makes the password non app-specific :).
However, the application-specific passwords are only displayed once and after your close them, they are no longer visible/retrievable. In fact the password is as secure as you make it. You can choose to use the password for only one service and never see the password displayed again.
It is a whole other question, however about how easily retrievable/encrypted are the application specific passwords even though they are only used as tokens of information valid only for the time you gave access to your Google account for a specific application/service.
I agree however that making an application-specific password which could only be used for a single service provider makes things more secure.
Just make sure that the application-specific passwords that you enter are nowhere to be remembered by the application/service, web browser, etc.
The best way of controlling what's going on with your app-specific passwords is to verify the time of login for each password and see whether there are any discrepancies.
1This is not the right place for this question. Maybe it should be on superuser? – Rook – 2012-08-14T14:38:40.313
@Rook Agreed. It's partially a security question, but I do think that it's off-topic for here. SuperUser is probably the best place for this to go. – Polynomial – 2012-08-14T14:39:32.183
Sure. Can someone move it? I don't have enough points. – Kevin Burke – 2012-08-14T14:48:52.837
I've flagged it. I'll poke Rory or AviD in a minute. – Polynomial – 2012-08-14T14:55:22.273