Not the image anyway. They store the relative positions of specific details of your print. 2 minutes on Google would have told you this.
Unfortunately this is pretty much the same thing in terms of actual security (see http://biometrics.cse.msu.edu/Publications/Fingerprint/FengJain_FMModel_ICB09.pdf)
FYI my professor happens to make exactly what you are looking for. In a nutshell, we create a non-invertible biometric template. You can think of it as a kind of "fingerprint hash". If the server is ever compromised there is no way to recover the fingerprint. Plus it's managed like a public key infrastructure, so you can actually revoke it if it's lost / stolen. Here are some of the papers he's written on this technology:
http://vast.uccs.edu/~tboult/PAPERS/Scheirer-Boult-bipartite-ICB2009.pdf
http://vast.uccs.edu/~tboult/PAPERS/biocrypt-scheirer-boult-biosymp2008.pdf
The company he runs has already created a secure biometric login system which uses these secure "biotopes" to automatically log time tracker entries (basically a secure biometric punchcard system). If you have any questions, please contact my professor:
Dr. Terry Boult < tboult AT vast.uccs.edu >
Pound for pound, the amoeba is the most vicious animal on earth.
