Saving Hashed Passwords in my database.php

Yeah I got your point but my employer doesn't want it to be saved as plain text. Hence, i was searching for the same.

Thanks for the Reply !

Why does your employer not want it to be saved as plain-text? It seems more like an issue of them not understanding the situation rather then a technical issue?

Perhaps them being more educated would be a better solution then trying to implement an ineffective technical solution that doesn't really solve the problem, as natanfelles said if the decryption key is on the server you don't gain any security benefits if your file system can be read and it does introduce overhead so you're gaining nothing but the costs are tangible.

What problem exactly are they trying to solve?