Md5crypt is no longer strong enough
>All major internet sites, anybody with more than 50.000 passwords, should design or configure a unique algorithm for their siteHe probably means to use some combination of well known/tested algorithms rather than inventing your own crypto, but I think his wording is ambiguous enough to be dangerous. While there is some benefit to using a unique algorithm for your site, it's almost certainly more risky than using a secure algorithm (i.e. bcrypt/scrypt/etc) even if every other site was using it too.