diff --git a/src/User/resources/views/mail/welcome.php b/src/User/resources/views/mail/welcome.php
index 526f079..8efa10a 100644
--- a/src/User/resources/views/mail/welcome.php
+++ b/src/User/resources/views/mail/welcome.php
@@ -27,7 +27,7 @@ use yii\helpers\Url;
 <p style="font-family: 'Helvetica Neue', 'Helvetica', Helvetica, Arial, sans-serif; font-size: 14px; line-height: 1.6; font-weight: normal; margin: 0 0 10px; padding: 0;">
     <?= Yii::t('usuario', 'Your account on {0} has been created', Yii::$app->name) ?>.
     <?php if ($showPassword || $module->generatePasswords): ?>
-        <?= Yii::t('usuario', 'We have generated a password for you') ?>: <strong><?= $user->password ?></strong>
+        <?= Yii::t('usuario', 'We have generated a password for you') ?>: <strong><?= Html::encode($user->password) ?></strong>
     <?php endif ?>
     <?php if ($module->allowPasswordRecovery): ?>
         <?= Yii::t('usuario', 'If you haven\'t received a password, you can reset it at') ?>: <strong><?= Html::a(Html::encode(Url::to(['/user/recovery/request'], true)), Url::to(['/user/recovery/request'], true)) ?></strong>