If you want to encrypt something like this; then you need to move to
SQL Server.
In SQL Server; I would most likely use a one-way hash for passwords.
It's called the CHECKSUM() function. There is also BINARY_CHECKSUM if
you want to do it in a case-sensitive manner.
Unless, of course; you're literally using these passwords to launch
something else.
What are you trying to achieve? That will determine how strong the
encryption should be. Are you trying to keep good-willing employees
from seeing sensitive data, or are you trying to keep the NSA out of
your db? Something in-between?
Dirt-cheap and not-at-all-safe solution: set the InputMask property to
Password.