Is there a way

[pug]

I have encrypted a password in a database using the function Password() that mySQL has..

I want to be able to email that password to my users, can I do this? Can I decrypt that password then send it?

[JDcrack]

PASSWORD() encryption is non-reversible. PASSWORD() does not perform password encryption in the same way that Unix passwords are encrypted.
http://www.mysql.com/doc/en/Miscellaneous_functions.html

[pug]

Could I use encode and decode?

[JDcrack]

Absolutely...

ENCODE(str,password)
this encode string using password as the "key"

DECODE(str,password)
example:
DECODE(ENCODE("secret","scramble"),"scramble")
will produce "secret"

While you are studying the business of crypt/decrypt
Here is a niftly little script that I think you will find usefull:
you can download it and take a look at the souce, I think it will help you out:
http://snarkles.net/scripts/sneak/sneak.php