how secure are the custom license features

We are thinking of using one custom license feature to store a unique password as a secret key for each of our clients.This password will be used locally by the application as a password to open a local database and login on remote webservices.I am wondering how secure is that.Is there any chance that the feature can be used by someone else who has access on our client's pc? e.g. reconstruct the value as plain text from the registry or read the value by another application using the same/another turboactivate dll.

Thanks in advance.

Is there any chance that the feature can be used by someone else who has access on our client's pc?

Yes, all the feature values are recoverable (by virtue of the fact that TurboActivate can read them).

If you tell me what you're trying to do (big picture) then I might be able to guide you in the right direction.