What are the potential risks of storing passwords online using MySQL and AES encryption in PHP?

Storing passwords online using MySQL and AES encryption in PHP can pose security risks if not implemented correctly. One potential risk is if the encryption key is compromised, all passwords stored using that key could be decrypted. To mitigate this risk, it is important to securely store the encryption key separate from the database and use strong encryption algorithms. 

// Store the encryption key securely, separate from the database
$encryptionKey = "ThisIsAStrongEncryptionKey123";

// Encrypt the password before storing it in the database
function encryptPassword($password, $key) {
    $cipher = "aes-256-cbc";
    $ivlen = openssl_cipher_iv_length($cipher);
    $iv = openssl_random_pseudo_bytes($ivlen);
    $encrypted = openssl_encrypt($password, $cipher, $key, 0, $iv);
    return base64_encode($iv . $encrypted);
}

// Decrypt the password when needed
function decryptPassword($encrypted, $key) {
    $cipher = "aes-256-cbc";
    $ivlen = openssl_cipher_iv_length($cipher);
    $encrypted = base64_decode($encrypted);
    $iv = substr($encrypted, 0, $ivlen);
    $decrypted = openssl_decrypt(substr($encrypted, $ivlen), $cipher, $key, 0, $iv);
    return $decrypted;
}

// Example usage
$plaintextPassword = "password123";
$encryptedPassword = encryptPassword($plaintextPassword, $encryptionKey);
$decryptedPassword = decryptPassword($encryptedPassword, $encryptionKey);

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