Store the username and password using the Settings-functionality in the project-properties window. These are global variables. If you add two user-settings as strings, you automatically store the username and password in a xml-file under the current windows user. To make the password unreadable to the naked eye you can base64-convert the string.
The settings properties are accessed form code like this:
string userName = "Amund";
byte[] bytearray = Encoding.Default.GetBytes(userName);
string userName64 = Convert.ToBase64String(bytearray);
Properties.Settings.Default.UserName = userName64;
Properties.Settings.Default.Save();
string _userName;
string userName64 = Properties.Settings.Default.UserName;
if(!userName64.Equals(String.Empty))
_userName = Encoding.Default.GetString(Convert.FromBase64String(userName64));