Store Password

My program requires a password inorder to login, and i am currently storing my password with the aplication binding property, but i dont know how secure that is. it was only temporary untill i found a better way but 1 i dont know a better way and 2 its quite conviniant. any sugestions?

ex:

private sub ok_click (adfasdf) handles okbtn.click
if textbox1.text = my.settings.password then
form 1 .show
else
msgbox("incorrectpassword")
end sub

thats basically what i have