This week's giveaway is in the EJB and other Java EE Technologies forum. We're giving away four copies of EJB 3 in Action and have Debu Panda, Reza Rahman, Ryan Cuprak, and Michael Remijan on-line! See this thread for details.
You can use the StoreUserConfig feature of WebLogic server.
Creates a user-configuration file and an associated key file. The user-configuration file contains an encrypted username and password. The key file contains a secret key that is used to encrypt and decrypt the username and password.
Only the key file that originally encrypted the username and password can decrypt the values. If you lose the key file, you must create a new user-configuration and key file pair.
Below article provides a step to step details about the utility.