I don't trust "encrypted" password because my experience with Host Gator: I contacted Host Gator support to reset my password and they were able to send me my previous PLAINTEXT password. I asked them how this was possible and they told me that the passwords were encrypted and only a few people had access to it.
People who also have access to it: Anyone who can see the Host Gator email que and the mail-servers the email passed through.
I promptly closed my account with them.