How to Protect Password in web.config

Dear All,

In My Web Application, I am connecting to SSRS for generating report. I read the username and password from web.config where password is readable format. I found some approach using aspnet_regiis and ProtectedConfigurationProvider. Kindly provide better approach. Though I have option to use current windows credential, I would like to know how to keep username and password protected in web.config or some other way.

ReportExecutionService.ReportExecutionService rs = new ReportExecutionService.ReportExecutionService();
rs.Credentials = new System.Net.NetworkCredential(strUserName, strpwd, strDomainName)

Thanks and Regards

Palanivelrajan