Outlook 2003 and Account Passwords

Have just upgraded to Office 2003 and now find that my
account passwords in Outlook 2003 are not being stored or
retained - have to enter the passwords each time I open
or close Outlook. Have ticked the appropriate box and
EVEN reinstalled the accounts - but to no avail. What
is the file which holds the passwords - could it be
corrupted?

Any suggestions please???