What platform?
On *nix, store the password in plain text in a file chmoded 400 in a subdirectory of the home directory. See for example ~/.subversion. Administrators can do anything they like to users anyway, including replacing your program with their own hacked version that captures passwords, so there's no harm in the fact that they can see the file. Beware that the password is also accessible to someone who takes out that hard drive - if this is a problem then either get the user to reenter the password each time or check whether this version of *nix has file encryption.
On Windows Pro, store the password in an encrypted file.
On Windows Amateur, do the same as *nix. [Edit: CryptProtectData looks good, as Aleris suggests. If it's available on all Windowses, then it solves the problem of only the more expensive versions supporting encrypted files].
On Symbian, store the password in your data cage. Programs with AllFiles permission are rare and supposedly trusted anyway, a bit like *nix admins.