A nice post, but it could use some more explanation about designing password hashes.<p>For example salt + iterative hash works extremely well too, that's what is done in the OpenPGP format (<a href="http://www.ietf.org/rfc/rfc4880.txt" rel="nofollow">http://www.ietf.org/rfc/rfc4880.txt</a> - 3.7.1.3 Iterated and Salted S2K).