Jerico - that's partially true. Its not a GUARANTEED match.
Due to the way MD5 works (and I dont know the DETAILS - however from a logical perspective), you're generating a 32 hex character hash based on whatever the input is.
32 Hex characters is about 3.4 x 10^38. But that's only 32 HIGHLY limited characters. Imagine how many combinations there would be if, instead of 16 variants for each column, you had 92 (26 upper, 26 lower, 10 number and 30 character) variables.
If you take two 32 character ASCII strings and MD5 them - with the right two combinations of strings - you WILL logically get the same hash (maybe even for 3, 4 or more strings too).
What makes it worse is that SO many people base their password on a dictionary word just to make their life easy. A modern computer can iterate through the oxford dictionary and create MD5's of them in next to no time. As Jess said - 10 minutes for a standard dictionary attack.
But a reverse MD5 lookup is still no guarantee.
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