As stated by CadRipper, MD5 is a *hashing* algorithm, not an encryption algorithm. MD5 is *non-reversible*, what the weakness means is that it\'s easier to find some input data that generates a given md5 hash than was previously thought.
Where it might be a threat is if people are relying on MD5 to verify the integrity of files, and someone is able to change the file and yet maintain the MD5 hash, but I don\'t think it\'s a big worry. If it turns out the md5 is too feeble (and it isn\'t, given most people password choices) then we can switch to something more secure.