How to copy passwords in the correct way?

As sometimes it needs to be upgrade to another version of Windows/PC how to copy preferences or passwords/FTP details?

copy this folder: %appdata%\SmartFTP\Client 2.0\Favorites

Is it actually possible to see all settings and passwords inside Smart FTP or within this directory?
As I understand there is possibility to import DAT file or folder or even XML data. Are these files encrypted?

The passwords are encrypted with a symmetric cipher.