you wouldn't be able to unencrypt it - MD5 is a one-way hash. You cannot "unencrypt" an MD5 hash.
The standard method for MD5 authentication is to store the password as a MD5 hash (salted, unsalted, whatever) and then, when a user tries to authenticate, take the password they provide, run the same algorithm on it, and compare the hashes. If the hashes match, then the password is valid.