[tptacek]

It's a pernicious myth that passwords on "free" websites don't matter, because no money is changing hands. Most people use the same password for random apps as they do for their email account.

I don't even want to get into the rat-trap of "what kinds" of attackers are stopped by reversably encrypted passwords. There's no kind of attacker that can reverse a properly hashed password, and so that's what you should use.