First off, base64 is not encryption. It's a
translation algorithm, which doesn't do anything cryptographic! It's there to translate data into a form that can be easily sent over non-binary channels, not to make it secure in any way shape or form.
If you want to protect sensitive data, what you should use depends on what kind of data you are protecting. If it's passwords, then you don't want to use encryption at all, as it's far too insecure! Use Hashing instead:
Password Storage: How to do it.[
^]
For data which needs to be encrypted, there are still a huge number of options depending on how you are storing it. If it's in a DB, then the "best" solution may be to encrypt the whole DB and let SQL take care of decryption for you. If it's file based, then AES may be the simplest:
Aes Class (System.Security.Cryptography)[
^] - the link includes an example.