You did something wrong. Who told you that it's encrypted? :-)
If you put a sting as an immediate constant, on Windows (if you mean "exe" and C++, it most likely indicates it's Windows, even though any other file can and on ".exe") it is represented as UTF-16LE, so you would be able to read characters in Hex editor byte by byte. A Unicode as a reference could help, and it's the easier to consult "CharMap.EXE", the Character Map application bundled with any version of Windows. See also:
However you could do something else, for example, encode Unicode text as UTF-8 and put it as a resource embedded in executable module, or something else. Than recognizing of your text would be harder, especially if you don't have experience in that.
Finally, as you mention 16 bit, it could be, however unlikely, something else, not even Unicode. In this case — who knows what it is? But again, this is unlikely.
And, but the way, Unicode is not a 16-bit encoding
. And not 8-bit. And not 32-bit. Unicode is Unicode. If you don't know what it is and how it works, better read the standard. If you don't understand something, I can help you. UTFs are encodings to be used in computers, Unicode itself is something abstracted from a particular binary presentation.