Nope...
The password is stored in the Registry here:
HKEY_CURRENT_USER\Software\Mirabilis\ICQ\NewOwners\<UIN>\MainLocation
They are first encrypted using hex,
and then by a common Encryption Algorithem using your Disc Volume Label,
and then by an ICQ Encryption Algorithem.
I'm not sure if i can put this here,
but there is a software that Localy Cracks the ICQ passwords,
here it is:
http://www.ifud.ru/cb2k/recover.exe