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In my application there is a password field. When user enters password it should encrypt that password and store into database. When user login into that application then password should fetch from database and decryption should take place.
Is it possible??
You could take a look at this link which could get you started in the right direction.
That being said however, it is the usual practice to store the hash value of the password itself rather than an encrypted version of the password. The hashing will allow you to check if the user has entered the correct password (by comparing the hash value you have in your database with the hash value of whatever the user entered) without the need of knowing what is the actual password.
The advantage of this is that it is usually simpler and more secure since you do not need to encrypt/decrypt any values. The drawback of using hashing is that you can never send the users their passwords (if you are planning to provide some sort of ‘forgot my password’ functionality) but rather you will have to reset it to a new, random one.