Dealing with quotes

[eluser]megabyte[/eluser]
Is there a right way to do this besides commenting this out of form_prep()

//$str = str_replace(array("'", '"'), array("'", """), $str);

My data gets inserted intot he database and replaces the quotes, then when it comes back into the text area for editing it shows up as

that#39;s

instead of

that's

same with double quoted strings.

I realize it would look fine in html, but is there a function or setting in codeigniter so this doesn't happen?