> you're still sending your full password to the server for verification each time, so if the server is compromised for any length of time your password will be

> you're still sending your full password to the server for verification each time, so if the server is compromised for any length of time your password will be as well. The key difference between storing plaintext passwords and hashed passwords is that with hashed passwords, you can only compromise users who log in during the interval when the system is compromised, and even then, only for worse compromises (eg if all the attacker gets is arbitrary disk read, compromising hashed passwords would be impossible in most scenarios.)