Deepthi,
Answer is simple. Dont!!
If you still have to do it (in case you have your own in-house payment gateway), then atleast have the following things in place -
1. a strong SSL certificate (Thawte, Verisign, et al)
2. SSL enabled webserver
3. Stop direct access to the database server
4. Stop direct root login on the database server
5. Stop all extra ports on the database and web servers (keep the ssh port open, and that too only for one particular ip)
6. Keep a strong password policy for both your servers
7. Have all database accesses from the webserver through the internal interface and not on the external ones
And that is just the start. Ideally, seek the advice of an ethical hacker on this.
I would still stick with the first option of not storing the CC no.s
