The data is encoded in Base64 which we'll need to decode in order to get the password. It is important to distinguish that there is a difference between encryption and encoding.
Note:
If data is encrypted, we have to crack the encryption or need a password. However, since it is encoded, we can simply decode the data.
The data.txt has the following data:
Encoded data
And in order to decode it, we simply pass it to base64 command with -d argument to decode it