One reason why Bcrypt has taken over for other hashing algorithms is because it introduces a "work" factor which allows you to extend the amount of time it take

One reason why Bcrypt has taken over for other hashing algorithms is because it introduces a "work" factor which allows you to extend the amount of time it takes to calculate the hash in order to prevent brute force attacks. By making the work factor or "cost" adjustable you get some protection against Moore's law because as computers get faster you can up the "cost". Canonical article on why bcrypt which explains it here http://codahale.com/how-to-safely-store-a-password/ http://codahale.com/how-to-safely-store-a-password/