Just to be clear: there is no significant difference between either of these and simply storing in plaintext.
"In a recoverable form" means that a) there's a single key with which to decrypt the passwords. If I can get the password list, the key isn't far away. And it might not be worth the effort to track it down, since it's practically equivalent to have the (two-way) encrypted passwords and to have the plaintext.
"In a recoverable form" means that a) there's a single key with which to decrypt the passwords. If I can get the password list, the key isn't far away. And it might not be worth the effort to track it down, since it's practically equivalent to have the (two-way) encrypted passwords and to have the plaintext.