It depends on how you are using salts for encryption...
If the salt does not change frequently:
I would store the salt alongside the master key in a safe location. Storing it alongside each password would just constitute in a lot of redundant data. Furthermore the database is probably not as safe a place as the storage location of the master key. Mind that the salt may be an essential part of the password security. (Depending on lenght and strenght of passwords chose by the users...)
If the salt changes frequently, i.e. with every encrypted password:
In this case you would need to store a huge number of salts. As one salt is only useful for the decryption of one password it's not as critical a piece of information as in the above example, storing it in the DB alongside the passwords is ok I guess. At any rate, storing the salts in a the app config could get messy. (Unless you would create an special salt database or something like that.)