In addition to Steve's reply you might also find the following valuable -
(How To Store an Encrypted Connection String in the Registry)
http://msdn.microsoft.com/library/en-us/secmod/html/secmod25.asp?frame=true
Might I add - there are mixed opinions about web apps accessing registry -
some guys think it's cool, some think it's not. My personal view is - as far
as security goes - that can be worked around in an acceptable manner - the
one issue the above mentioned link doesn't address is - registry is
SLOWWWWWWWW as a world war 2 tank !!!. (Like a WW2 tank .. it took a lot of
cra~p).
But then that can be worked around - it's easy - cache the connectionstring;
and setup a dependency similiar to FileDependecy or SqlDependency; and bingo
you just avoided the last argument against registry - performance.
- Sahil Malik
http://dotnetjunkies.com/weblog/sahilmalik