Earlier quoted context omitted.
When you properly encrypt server passwords, they are not supposed to be decrypt-able. Whereas, this is supposed to be a two-way encryption as you need to access the raw data. Ergo, any form of encryption you can do can be easily undone and thus rendering your efforts moot. http://en.wikipedia.org/wiki/Salt_(cryptography)
I understand one way hashing but what about DB passwords for instance? You need access to plaintext passwords. This is getting long but the point is plaintext = he worst thing you can do. Even ROT13 is a little better.
No it's not.