is disabling "Store passwords using reversible encryption" option convert passwords to unreversible state?

Question

Hi All!!

I inherited an AD domain and GPO with "Store passwords using reversible encryption" option enabled.
This fact worries me very much, and that is why I want to turn this option to "disabled".
My question: after disabling this option should all my users change their password to "rewrite" it in store in unreversible view? Or it is unnecessary and passwords will rewrite themselves (if I may say so) just after disabling option?