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Aug 27, 2014 at 22:18 comment added Fleche I never said that a single iteration must be slow. In fact, PBKDF2 is commonly based on fast hash algorithms like SHA-1. The point is that repeating MD5 a few times as demonstrated in the question doesn't help.
Aug 27, 2014 at 21:57 comment added Marcks Thomas The speed of a single iteration does not matter much. The faster an attacker can calculate hashes, the faster your password server can, allowing you to proportionally increase the number of iterations required. Of course, I agree this particular implementation is naïve and should be avoided for reasons stated.
Aug 27, 2014 at 20:27 history answered Fleche CC BY-SA 3.0