Proper way to store a password within a SQL Server agent job
One risk mitigation is to use a signed stored procedure.  Here's an example of this in action.  In summary, you package all the sensitive action (table access etc.) inside a stored procedure.  You create a certificate in SQL server to sign that SP.  You create a new login who's only ability is to execute the SP and you send the password to this low-privilege login in plaintext.  Depending on how sensitive the data coming from the SP are this can limit damage from a password leak.