I am using the Aesmanaged class to encrypt/decrypt passwords, per the code in this link https://msdn.microsoft.com/en-us/library/system.security.cryptography.aesmanaged(v=vs.110).aspx
We have a system to store user passwords encrypted. My question is do we store the user passwords with one key/IV pair for all users or one Key/IV pair for each user. What are the pros/cons for each approach?