MD5 is a hash, not an encryption. From this hash value you cannot restore the original content. However, you can take a dictionary, hash every word in it with md5, then compare the original md5 value with them. If there is a match, your md5 is cracked.
“MD5Decrypter.co.uk allows you to input an MD5 hash and search for its decrypted state in our database, basically, it’s a MD5 cracker / decryption tool… We have a total of just over 43.745 billion unique decrypted MD5 hashes since August 2007.” (source)
So, if you store your passwords in md5 format and someone has access to them, they are not safe at all… If an md5 hash is generated from a weak password, it can be cracked in an instant with the tool above.
OK, but… how should I store the passwords then?
See this post for a great tip: How to store and verify a password?