Encrypting Connection String in web.config
Rahul, converting a string from ASCII to base64 string isn't an encryption, which is what your first link suggests. We can easily convert base64 to ASCII.
Using configsection.protectSection() with an RSA key is a proper encryption that is available for sections of the Web.config file.
Check this link: http://www.beansoftware.com/ASP.NET-Tutorials/Encrypting-Connection-String.aspx
Please note, that we can not encrypt Web.config file in a shared hosting environment where Trust level is set to medium trust.
To save having to visit external links, in C:\Windows\Microsoft.NET\Framework\v4.0.30319 (for .NET 4 / 4.5)
aspnet_regiis.exe -pe "connectionStrings" -app "/YourWebSiteName" -prov "DataProtectionConfigurationProvider"
To decrypt connectionStrings section using this tool, you can specify following command in aspnet_iisreg.exe tool.
aspnet_regiis.exe -pd "connectionStrings" -app "/YouWebSiteName"