Protecting WSS Passwords in SOAP UI Project files

We want to buy SOAP UI PRO but our company's security polciy say no passwords can be stored in clear text. WSS Passwords are stored by default in the project file. There is an option to encrypt the SOAP UI project file from within SOAPUI.
Question:
What security algorithm is used and what is the cipher strength ?

I see there are also ways to set passwords dynamically from the SoapUILoadTestRunner class. Would this be a better option than just encrypting the entire file ?