as you guys know that the Hardcoded coding in exe file can easily be seen through some Softwares (e.g. code reflector), I want to know whether how can I Hide my connection string having information of sql server username and password to connect to database in windows forms application from being seen through any code reflector so that any one else Except me may never be able to use my application without my permission.
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As commented, you are better off using Integrated Security, however if you are targeting a SQL Server with say Mixed Mode Authentication you could use the Data Protection API to encrypt the connection string in the app.config. Here is a great article on the topic:
Safeguard Database Connection Strings and Other Sensitive Settings in Your Code
How To: Use DPAPI to Encrypt and Decrypt Data (C#/VB.NET)