There's a reason MD5 isn't used much anymore. Personally, I prefer SHA-512. Yeah, it will use more CPU cycles. So be it. We have fuck-huge CPUs. Not sure if there's a better one out yet, but that's what I usually go with for hashing.
Adding rounds to the hashing algorithm is what can make passwords effectively uncrackable. If it costs 1 second of CPU time to test a password even a GPU could take thousands of years to find a match. Some algorithms even let you increase the memory cost of running them. That is the big killer. A GPU can’t run thousands of iterations per second if each iteration requires 100 MB of RAM.
The problem is that you cannot control the algorithm strength on online services that you use. You’re lucky if some of the software out there even encrypts your password.
Speaking of idiots:
Passwords should be paired with a second factor, preferably biometric, said Gunner, because it’s the most difficult for hackers to bypass.
No. Never use biometrics. They will be cracked and then your access is forever open because you cannot your biometrics.
Right, good luck changing your fingerprint. I tried that once. Hurt like hell.