Encrypting Procedure Definitions
If you are creating a stored procedure and you want to make sure that the procedure definition cannot be viewed by other users, you can use the WITH ENCRYPTION clause. The procedure definition is then stored in an unreadable form.
Once encrypted, the definition of the stored procedure cannot be decrypted and cannot be viewed by anyone, including the owner of the stored procedure or the system administrator.
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尽管微软这样说, 但好像还是有人能够解密, 我回答了你的另一个贴子, 可参考.