vB's way to store passwords

[Wynand]

Hi,

What kind of an encryption does vB use to store its passwords?
I'd like to make a form that logs you in on a website that shares the same data as in the user table.
A way to change the hashes into something that would be less server intensive to decrypt would be good too, although I don't really like clear-text passwords in database (see it as a "if no other way" option).