Encryption / Decryption Sensitive Payload Data

Does anyone know of a encryption / decryption technique for sensitive data in a message payload to prevent the information from showing up in audit logs? For example, a payload containing a password. The password should not appear in any logs. When the payload is received, the password needs to be encrypted and then just before the payload is forwarded the password needs to be decrypted. I'm looking for a generic solution that will work with OSB and BPEL.