It's more likely that the Cards had a Excel file "Master_Passwords.xls" (or similar) with all his department's passwords listed in it on a shared department folder. No encryption, hashing, etc. Maybe they used Excel password protection on the file.
Just a hunch, but I've seen it many times at past employers.
Or something like KeePass or similar, it can be nice to know people's information in case they leave (I'm not advocating insecure practices), though an excel sheet or post it seems as likely.
Just a hunch, but I've seen it many times at past employers.