Putting SHA-1 crack in perspective

Before I continue, I want to make it clear that the work of Professor Wang and her team is probably one of the biggest accomplishments in the field of cryptanalysis in recent years and is very well respected by her peers. But to put this event in the proper perspective, the finding of a hash collision does not mean the end of the world if your current security products use the SHA-1 hashing algorithm. Just because a hash collision is found doesn't necessarily mean hackers can start exploiting this. Not only does it still requires a massive amount of computing fire power to find a single hash collision but more importantly; finding a hash collision doesn't necessarily mean that a hacker has something useful.

Read more HERE.