Secure Hashing using BCrypt for Cryptographic Applications

Impactful data breaches that exposed the online accounts and financial information of billions of individuals have increased recently because of the digitization of numerous industries. As a result, the need for comprehensive cybersecurity measures has risen, particularly with regard to the safekeeping of user passwords. Strong password storage security ensures that even if an attacker has access to compromised data, they are unable to utilize the passwords in attack vectors like credential-stuffing assaults. Additionally, it will reduce the risk of threats like fraudulent account charges or account takeovers for users. This study compares the performance of several hashing algorithms, including Bcrypt, SHA-256 and MD5 and how bcrypt algorithm outperforms the other algorithms. Reversal of each of the results will be attempted using Rainbow Tables for better understanding of hash reversals and the comparisons are tabulated. The paper provides a detail implementation of bcrypt algorithm and sheds light on the methodology of BCRYPT hashing algorithm results in robust password security. While SHA-256 hashing algorithms are, easily susceptible to simple attacks such as brute force as it a fast algorithm and making bcrypt more favorable.