Why should I care about hashing passwords anyway?

Question

If a hacker has access to the hashes in my DB, he has access to the rest of the information in the DB anyways. So why would he bother trying to decrypt the passwords? Should

Answer 1

If he can decrypt the passwords, he can probably get access to your user's accounts on other sites as well (as, no matter how many times we tell people not to re-use passwords, they do). Storing plaintext passwords is a good way to give away all your users' PayPal, eBay & Amazon accounts.