I discovered that it is possible to extract the hard-coded strings from a binary.
For example the properties view of Process Explorer displays all the string with more t
The best you can do is to code your password or other string that you want to hide as char array. For example:
std::string s1 = "Hello"; // This will show up in exe in hex editor
char* s2 = "World"; // this will show up in exe in hex editor
char s3[] = {'G', 'O', 'D'}; // this will not show up in exe in hex editor.