I'm not sure I understand what you mean. If your business needs this, then yes, if it doesn't, then no.
First, you shouldn't store the plaintext password, store it crypt'd. As for where to store it, that depends on your system's setup, you'll preferably want to store it in a file which can be read by as few people as possible, that could be your CGI if you're using suEXEC or similar mechanism.