May I suggest implementing RADIUS or TACACS for login control? You'd be able to track who was logged in when, and not have to coordinate passwords between routers, making adding/changing/removing users/admins from your system much simpler.

We have a similar application and it works quite well.

As for the posters' question, if you're asking how to obscure the passwords in a plain-text file, MD5 is about the best option available, but far from foolproof. Any other option is just a simple "obfuscation" and is easily broken even by script kiddies.

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"Non sequitur. Your facts are un-coordinated." - Nomad