key storage

hi!

i am building a web application. for client authentication, i am using
cookies which include the HMAC of the data.
the server also has a public/private key pair for signing and verifying
information.
my question is how should these be stored on the server? encryption is the
best solution, but if i encrypt them with another key, the question is
where does this key get stored?

thanks

cheers
ajay





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