Do you use MD5 or SHA1 to store passwords? Think they are secure? Think again.
While generic hashing algorithms are certainly better than storing passwords in plain text, it’s still not as secure as it should be. Users place great trust in us to ensure that their credentials will be secure and treated with the utmost respect; it’s our responsibility to live up to these expectations.
With the simplicity and speed of these general purpose algorithms, it’s possible to generate hashes looking for collisions (or even the original value) extremely quickly. It’s this speed that introduces the fatal flaw; with a database dump containing MD5 hashed passwords, with a fairly small investment most could be recovered within a very small amount of time (mere days for a large database).
Many people are moving to bcrypt as a solution. In Coda Hale’s “How To Safely Store A Password” he covers this topic in more detail, complete with useful stats and links to implementations in languages from C# to Ruby (even Erlang is represented).
If you are looking for ways to better protect your user’s data, take a closer look at your password storage.