When I use the appcmd list appool /text:* command, it shows me the application pool identity passwords in clear text. I am able to view
appcmd list appool /text:*
The passwords are only decrypted if you run appcmd as Administrator. If you run as a normal account, you get back the encrypted string.
appcmd
This will be something like [enc:IISSomethingProvider:…:enc], just as you find it in applicationHost.config.
[enc:IISSomethingProvider:…:enc]