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Originally Posted by RaelRode
Multi-hashing increases the chances of a collision. i.e. two words hashed over and voer could result in the same hash at the end.
Because passwords usually aren't the same, they're random, especially if you have to have a number in there. But if you hash it with md5, you get a 32 character string, then hash that another 32 character string, so they're always 32 characters long. hashing over and over is bad practice, and it's better to use a dynamic and static salt.
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Since this is a thread about PHP code and not the benefits of hashing, I'll drop it. However, if anything gets taken away from my previous post is that it is not completely pointless to multi-hash and it is not a resource hog as previously stated.
Granted that post was a million years old, but this thread is the only stickied in this subforum. This thread is read, and I think it should at least be addressed.