For active directory configuration I need to give our IT admin password
ldap.synchronization.java.naming.security.principal=
ldap.synchronization.java.naming.security.credentials=
He feels that its a big security concern as other developers working on alfresco has the access to the global property file.
Is there any possibility to encrypt the global property file ?
Alfresco version 4.2e
Unfortunately there is no such functionality in the Community Editon. Alfresco introduced property encryption in a later enterprise version but in the CE there is no such thing even in the latest version.
Maybe you also read the Alfresco forums thread alfresco-global.properties file encrypting?