I'm looking at using a crypto lib such as pycrypto for encrypting/decrypting fields in my python webapp db. But encryption algorithms require a key. If I have an unencrypted key in my source it seems silly to attempt encryption of db fields as on my server if someone has access to the db files they will also have access to my python sourcecode.
Is there a best-practice method of securing the key used? Or an alternative method of encrypting the db fields (at application not db level)?
UPDATE: the fields I am trying to secure are oauth tokens.
UPDATE: I guess there is no common way to avoid this. I think I'll need to encrypt the fields anyway as it's likely the db files will get backed up and moved around so at least I'll reduce the issue to a single vulnerable location - viewing my source code.
UPDATE: The oauth tokens need to be used for api calls while the user is offline, therefore using their password as a key is not suitable in this case.
If you are encrypting fields that you only need to verify (not recall), then simple hash with SHA or one-way encrypt with DES, or IDEA using a salt to prevent a rainbow table to actually reveal them. This is useful for passwords or other access secrets.
Python and webapps makes me think of GAE, so you may want something that is not doing an encrypt/decrypt on every DB transaction since these are already un-cheap on GAE. 
Best practice for an encrypted databased is to encrypt the fields with the users own secret, but to include an asymmetric backdoor that encrypts the users secret key so you (and not anyone who has access to the DB source files, or the tables) can unencrypt the users key with your secret key, should recovery or something else necessitate. 
In that case, the user (or you or trusted delegate) can retireve and unencrypt their own information only. You may want to be more stringent in validating user secrets if you are thinking you need to secure their fields by encryption. 
In this regards, a passphrase (as opposed to a password) of some secret words such "in the jungle the mighty Jungle" is a good practice to encourage.
EDIT: Just saw your update. The best way to store OAuth is to give them a short lifespan, only request resources your need and re-request them over getting long tokens. It's better to design around getting authenticated, getting your access and getting out, than leaving the key under the backdoor for 10 years. 
Since, if you need to recall OAuth when the user comes online, you can do as above and encrypt with a user specfic secret. You could also keygen from an encrypted counter (encrypted with the user secret) so the actual encryption key changes at each transaction, and the counter is stored in plaintext. But check specific crypto algo discussion of this mode before using. Some algorithms may not play nice with this.
How to store a crypto key securely?