Need help with PASSWORD()

[Ruquay K Calloway]

I'm having trouble running a query when it uses the PASSWORD() function, although I have not had any trouble storing information in that way.
e.g.:
INSERT INTO `users` VALUES ('username',PASSWORD('abcd'));
does not give me any trouble, and when I check the entry, the password has been encrypted.
However, when I want to check a password against it:
SELECT * FROM `users` WHERE password=PASSWORD('abcd');
It runs the query, but returns nothing. Do I have a configuration setting wrong?
Thanks,
Ruquay