The problem with hashes is that you still need long and/or interesting passwords, and not to reuse them at other sites. For all the major hash algorithms, there already exist lists of precomputed hashes from combinations of all the keyboard characters. As of about five years ago, the list was up to all combinations of six or fewer characters. So if your password is shorter than six characters, and someone obtains the password file/table for a site, the password that generated the stored hash is effectively in the clear and can be used to exploit other resources a hacker might be able to associate with your identity. For example, my password here is not the same as my password at other forums. So while someone might be able to crack the hash here and obtain my password here in plain text, it would be useless at other forums where I also use the name JayUtah.
