Encrypting password in c#

using System.Security.Cryptography;

public static string EncodePasswordToBase64(string password)
{  byte[] bytes   = Encoding.Unicode.GetBytes(password);
   byte[] inArray = HashAlgorithm.Create("SHA1").ComputeHash(bytes);
   return Convert.ToBase64String(inArray);
}

public static byte[] GetHashKey(string hashKey)
       {
           // Initialize
           UTF8Encoding encoder = new UTF8Encoding();
           // Get the salt
           string salt = !string.IsNullOrEmpty(Salt) ? Salt : "I am a nice little salt";
           byte[] saltBytes = encoder.GetBytes(salt);
           // Setup the hasher
           Rfc2898DeriveBytes rfc = new Rfc2898DeriveBytes(hashKey, saltBytes);
           // Return the key
           return rfc.GetBytes(16);
       }
public static string Encrypt(byte[] key, string dataToEncrypt)
       {
           // Initialize
           AesManaged encryptor = new AesManaged();
           // Set the key
           encryptor.Key = key;
           encryptor.IV = key;
           // create a memory stream
           using (MemoryStream encryptionStream = new MemoryStream())
           {
               // Create the crypto stream
               using (CryptoStream encrypt = new CryptoStream(encryptionStream, encryptor.CreateEncryptor(), CryptoStreamMode.Write))
               {
                   // Encrypt
                   byte[] utfD1 = UTF8Encoding.UTF8.GetBytes(dataToEncrypt);
                   encrypt.Write(utfD1, 0, utfD1.Length);
                   encrypt.FlushFinalBlock();
                   encrypt.Close();
                   // Return the encrypted data
                   return Convert.ToBase64String(encryptionStream.ToArray());
               }
           }
       }
public static string Decrypt(byte[] key, string encryptedString)
       {
           // Initialize
           AesManaged decryptor = new AesManaged();
           byte[] encryptedData = Convert.FromBase64String(encryptedString);
           // Set the key
           decryptor.Key = key;
           decryptor.IV = key;
           // create a memory stream
           using (MemoryStream decryptionStream = new MemoryStream())
           {
               // Create the crypto stream
               using (CryptoStream decrypt = new CryptoStream(decryptionStream, decryptor.CreateDecryptor(), CryptoStreamMode.Write))
               {
                   // Encrypt
                   decrypt.Write(encryptedData, 0, encryptedData.Length);
                   decrypt.Flush();
                   decrypt.Close();
                   // Return the unencrypted data
                   byte[] decryptedData = decryptionStream.ToArray();
                   return UTF8Encoding.UTF8.GetString(decryptedData, 0, decryptedData.Length);
               }
           }
       }