...and I've very scared.

I've searched around and haven't really found anything on the subject. We're wanting to change our TeamSite password. Our implementation is several years old now, and a lot of folks have come and gone. We decided that it might be a good idea to at least explore the possibility. Platform is Wintel, TeamSite 6.x, OD 6.1. We're pretty certain that there are some custom apps that might be running at TS, and there are probably going to be some scripts that have the TS account and password hard coded.
I'm just looking for any tips, tricks, things to watch out for, etc. when changing the TeamSite account password. Also, any best practices around TS security and storing passwords. I'm thinking that we should probably have the password information in encrypted XML and just access it from scripts. That would do a better job of securing the password and would make it so that we only have to change it in one place when we do need to change it. Make sense?