There is a way to encrypt the connection string in the web.config as described in this article:Encryption of Sitefinity connection strings
. Since in the newer versions the connections string is in the data.config, you can ignore the first part which explains how to move it to the web.config and just execute the encryption action.
Do you want to have your say in the Sitefinity development roadmap? Do you want to know when a feature you requested is added or when a bug fixed? Explore the Telerik Public Issue Tracking
system and vote to affect the priority of the items