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My web application stores external website login/passwords for interaction with them. To interact with these websites I need to use the original password text, so storing just the hash in my database is not going to work.
How should I store these passwords?
Edit:
I am concerned if someone gets access to my server. If I use some kind of 2-way encryption and they have server access then they can just check how the passwords are decrypted in my backend code.
It seems to me that you want to store passwords in a similar fashion as Firefox and Chrome. So why not look at how they do it?
This is how Chrome does it:
http://www.switchonthecode.com/tutorials/how-google-chrome-stores-passwords