This article provides a nice breakdown for the process of decoding Base64 to a string. It also gives a clean way to setup a function in your PowerShell profile to handle this task. You have options for the type of string encoding such as Unicode, UTF-8, UTF-7, or ASCII.
[System.Text.Encoding]::Unicode.GetString([System.Convert]::FromBase64String($EncodedText))
or
[System.Text.Encoding]::UTF8.GetString([System.Convert]::FromBase64String($EncodedText))
or
[System.Text.Encoding]::ASCII.GetString([System.Convert]::FromBase64String($EncodedText))