We are soon releasing a private beta of a domestic economy website.
The website of course gathers information from a user's (identified by email only) private financial situation: salary, rent, bills, mortages, etc. All of these are really sensitive information and should not be accessible by anyone - not even us, the tech ppl.
What are best practises for storing data in a non-readable fashion? Of course, member passwords are already hashed in the db.
What I'm thinking about is to encrypt all data using some kind of key. But then again, the application needs access to that key. And I don't want to store it in the db. If supplied by user, I guess I could keep it in the session in order to decrypt every retreived db result. But what about overhead?
Pls, anyone with guidelines?
What about a second keyphrase secured by the users keyphrase? When he logs in his second will be decrypted and stored.