Let me first explain that I am a Coldfusion server side developer, and I have been dutifully encrypting login passwords for many years.
I recently started thinking more carefully about the point of hashing or encrypting passwords, using libraries such as bCrypt(). Hackers often use SQL Injection to obtain sensitive data like bank account details, NI Numbers & credit/debit card numbers. I very much doubt a hacker would be bothered to sell passwords, considering a single credit card number only sells for a relatively small amount nowadays.
So, my question is:
Is there actually any point in encrypting login passwords in the first place?