Two interesting essays on how to properly store and handle user passwords for a site -- not quite as simple as you thought -- it's not good enough just to salt and use a hash function.
Also of related interest:

- https://krebsonsecurity.com/2012/06/how-companies-can-beef-up-password-security/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+KrebsOnSecurity+%28Krebs+on+Security%29
- http://throwingfire.com/storing-passwords-securely/
Also of related interest:
- http://www.nytimes.com/2012/06/11/technology/linkedin-breach-exposes-light-security-even-at-data-companies.html?_r=2&pagewanted=2&hp
- http://queue.acm.org/detail.cfm?id=2254400













Online TrID file identifier
SeqBox



. The new algorithm would then become:


