Signup password plugin not encrypted

I have just tested Set password on WordPress MU blog creation plugin, and i found in PhpMyAdmin in wp-signup table, meta field that user password's are not encrypted.

a:3:{s:8:"password";s:7:"user_set_password";s:7:"lang_id";i:1;s:6:"public";i:0;}

I think it's real security issue for those who has few users with DB access.