I strongly agree with Sisob, Zeno, and Jaykul. WordPress has so many good features offer, but storing cleartext passwords is an awfully big risk to carry, especially when WP is hosted on a shared server–which unfortunately is what the vast majority of personal site do use. Unfortunately, password hashing didn’t make it into the 1.0 release after all. Too many people use the same login/password combo all the other the net, so a compromise of one site’s user db can have a nasty domino effect for the user whose password has been exposed. Hopefully the developers will add mandatory password hashing very soon. There’s good reason this has become such a routine security/privacy measure.