Key-stretching adds additional security to potentially weak keys by requiring an expensive computation to transform the initial key into a derived key.
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Should hashing hashed hashes colide or not?
Since key stretching basically boils down to hashing hashes over and over again (where salt, pepper and password individualize the hash function, but the principle remains the same), I wonder about ...
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BCrypt+SHA256 vs PBKDF2-SHA256
From this question, the OP posited taking a user's entered password, running it through BCrypt, then running that through SHA256 to produce a 256-bit password-derived key. (EDIT: To clarify, these two ...