I echo krooga. Why would you want to see their passwords? Nearly all applications have automatic password retrieval if someone forgets their password. So it wouldnt be needed for that.
If I knew that someone had access to my password, no matter what service it is, I wouldnt use that service. If you are setting up an email service, you have to include privacy rights, etc... for your members to see their rights of privacy when using your service. Do you intend saying that administrators have access to their passwords? If you do, expect a decline in membership. These days only the stupid people would go for that.
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