Encrypted Password Storage Solution

[CleverBalls]

Hey guys, the business I am currently working for retains all of their passwords in their heads and they're all very easy to break. What I would like to put in is a password retention solution, so they can use better passwords, but retain them in a database for reference if forgotten.

What would be the best solution?

Password protected/encrypted excel document in cold storage?

Password protected/encrypted excel in a sterile file location on a server?

Cloud based storage?

Also, what would be the most SECURE solution?

Cheers guys!

 

[CleverBalls]

Not a software engineer or anything, but because this is open source, would it not be possible for black hats to reverse engineer the custom encryption process?

 

[CleverBalls]

Knowing how something was encrypted doesn't give you the key that is required to decrypt it.

True, I don't even know why I asked the question really - Just wanted to be sure!

I'm building a database with Keypass now, seems like a good enough solution and it complies with PCI so we should be covered!