Write some Software

I have a website that encrypts passwords with md5. Personally I'm not comfortable able to view people's passwords in the database and still able to decrypt them into plain text, I do not think it's secure and fair to the user. I want passwords to be encrypted with the latest version of PHP encryption available and want to use some sort of hash salt or any other thing to keep people's passwords 100% safely stored in my database. Anyone with good experience is welcome. I don't think this should be that big of a project. Thank you in advance!