Free online tool to generate and compare MD5 hashes from text. Also supports CRC32, SHA1, SHA224, SHA256, SHA384, SHA512, RIPEMD160, RIPEMD256, RIPEMD320, Tiger, Whirlpool, Panama, CRC16 hashing algorithms.

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Information
From Article : Wikipedia Article for MD5 Hashing Algorithm

MD5

The MD5 algorithm is a widely used hash function producing a 128-bit hash value. Although MD5 was initially designed to be used as a cryptographic hash function, it has been found to suffer from extensive vulnerabilities. It can still be used as a checksum to verify data integrity, but only against unintentional corruption.

Like most hash functions, MD5 is neither encryption nor encoding. It can be reversed by brute-force attack and suffers from extensive vulnerabilities as detailed in the security section below.

MD5 was designed by Ronald Rivest in 1991 to replace an earlier hash function MD4. The source code in RFC 1321 contains a "by attribution" RSA license.

The security of the MD5 has been severely compromised, with its weaknesses having been exploited in the field, most infamously by the Flame malware in 2012. The CMU Software Engineering Institute considers MD5 essentially "cryptographically broken and unsuitable for further use".

Applications

MD5 digests have been widely used in the software world to provide some assurance that a transferred file has arrived intact. For example, file servers often provide a pre-computed MD5 (known as md5sum) checksum for the files, so that a user can compare the checksum of the downloaded file to it. Most unix-based operating systems include MD5 sum utilities in their distribution packages; Windows users may install a Microsoft utility, or use third-party applications. Android ROMs also use this type of checksum.

As it is easy to generate MD5 collisions, it is possible for the person who created the file to create a second file with the same checksum, so this technique cannot protect against some forms of malicious tampering. In some cases, the checksum cannot be trusted (for example, if it was obtained over the same channel as the downloaded file), in which case MD5 can only provide error-checking functionality: it will recognize a corrupt or incomplete download, which becomes more likely when downloading larger files.

MD5 can be used to store a one-way hash of a password, often with key stretching. Along with other hash functions, it is also used in the field of electronic discovery, in order to provide a unique identifier for each document that is exchanged during the legal discovery process. This method can be used to replace the Bates stamp numbering system that has been used for decades during the exchange of paper documents.