There shouldn\'t be much of a panic about it. If it takes that much only very few will be able to do it in the very near future, and I doubt any of them are interested in getting passwords of PS players.
And by the time it\'ll be more common for people to have the ability to do it, there will already be a far better algorithm. I bet it\'ll be called MDX, or MDIII, because some idiot decided that roman numerals are I III III VII.
The encryption \\ decryption battle is probebly as old as languages, each side always trying to catch up on the other. As MrKaKe said, it was wrong to overestimate MD5.
No matter how good an encryption will be, it\'ll be decryptable. Maybe not today, maybe not tomorrow, but it will be. And when it will, people will panic, and a better encryption method will be introduced.
Actually, it shouldn\'t be that hard to find ways to decrypt stuff. If you know the encryption method, all you need is some CPU cycles. Of course that the better the encryption, the longer it will take, but that\'s all you need, and that\'s something many people in the western world have.
Actually, I\'m kinda surprised it took that long to crack it, I mean, how old is it, 13? Seems like the decrypting forces are slacking. Can\'t blame them though, considering that by the time they\'ll be able to use it there will be a new set of defences.
Edit: Oh, and btw, you know all those annoying things in registrations that require you to enter a serie of numbers and letters that are shown in a pic that is hardly understandable? You know how they claim to be \"Understandable by humans, but not by machines\". BS. Just get a better CPU. For these things you might also want to code a program that can take the image and alter it back to plain text, because they usually use filters and stuff. But it\'s really possible.
Some of them are actually really hard for humans, but can be possible for a computer with enough CPU and a nice program to decypher them.