The greatest benefit to hashing is to protect the user's privacy from yourself (and other authorized administrators of the application) and as a guarantee that

The greatest benefit to hashing is to protect the user's privacy from yourself (and other authorized administrators of the application) and as a guarantee that after the point hashing is implemented nobody can get easily expose plaintext version. Even if all of these fancy hashing algorithms are implemented, it only makes it slightly more difficult to crack weak (common, short, dictionary word) passwords.