Unlike passwords, the encryption for the cc#s has to be reversible. That's part of the reason why they introduced CVCs, right?
While only marginally better depending on the type of attack and permissions gained by the attacker, if all they got was static data on disk, then it would be secure.
Something as big as PSN has multiple servers reading the same DB and must be able to tolerate failures without forcing everyone to re-enter their CC #. The keys must be stored persistently somewhere.
Whenever the server needs to be started, two of those people must enter their key shares. That enables the server to reconstruct the key, which is then stored in memory.
Simplifying just a bit -- The one time you pass the # along to the bank, they give you back a transaction ID you can use to do future things with that card. The bank knows the number, looks it up by that ID.
[0] http://arstechnica.com/gaming/news/2011/02/report-psn-hacked...
The numbers probably also cross the wire in plain text between the web server and the database too.
Why on earth would you ever do that?
And I have better password practices than most. Credit cards might be an immediate thought, but how many other physical and intangible assets does your password give a hacker access to?