I was wondering if I could reasons or links to resources explaining why SHA512 is a superior hashing algorithm to MD5.
It needs a much larger dictionary to map backwards, and has a lower chance of collision.
MD5 has been cryptographically broken for quite some time now. This basically means that some of the properties usually guaranteed by hash algorithms, do not hold anymore. For example it is possible to find hash collisions in much less time than potentially necessary for the output length.
SHA-512 (one of the SHA-2 family of hash functions) is, for now, secure enough but possibly not much longer for the foreseeable future. That's why the NIST started a contest for SHA-3.
Generally, you want hash algorithms to be one-way functions. They map some input to some output. Usually the output is of a fixed length, thereby providing a "digest" of the original input. Common properties are for example that small changes in input yield large changes in the output (which helps detecting tampering) and that the function is not easily reversible. For the latter property the length of the output greatly helps because it provides a theoretical upper bound for the complexity of a collision attack. However, flaws in design or implementation often result in reduced complexity for attacks. Once those are known it's time to evaluate whether still using a hash function. If the attack complexity drops far enough practical attacks easily get in the range of people without specialized computing equipment.
Note: I've been talking only about one kind of attack here. The reality if much more nuanced but also much harder to grasp. Since hash functions are very commonly used for verifying file/message integrity the collision thing is probably the easiest one to understand and follow.
It is simple, MD5 is broken ;) (see Wikipedia)
Bruce Schneier wrote of the attack that "[w]e already knew that MD5 is a broken hash function" and that "no one should be using MD5 anymore."
MD5 has a chance of collision (http://www.mscs.dal.ca/~selinger/md5collision/) and there are numerous MD5 rainbow tables for reverse password look-up on the web and available for download.
It depends on your use case. You can't broadly claim "superiority". (I mean, yes you can, in some cases, but to be strict about it, you can't really).
But there are areas where MD5 has been broken:
- For starters: MD5 is old, and common. There are tons of rainbow tables against it, and they're easy to find. So if you're hashing passwords (without a salt - shame on you!) - using md5 - you might as well not be hashing them, they're so easy to find. Even if you're hashing with simple salts really.
- Second off, MD5 is no longer secure as a cryptographic hash function (indeed it is not even considered a cryptographic hash function anymore as the Forked One points out). You can generate different messages that hash to the same value. So if you've got a SSL Certificate with a MD5 hash on it, I can generate a duplicate Certificate that says what I want, that produces the same hash. This is generally what people mean when they say MD5 is 'broken' - things like this.
- Thirdly, similar to messages, you can also generate different files that hash to the same value so using MD5 as a file checksum is 'broken'.
Now, SHA-512 is a SHA-2 Family hash algorithm. SHA-1 is kind of considered 'eh' these days, I'll ignore it. SHA-2 however, has relatively few attacks against it. The major one wikipedia talks about is a reduced-round preimage attack which means if you use SHA-512 in a horribly wrong way, I can break it. Obivously you're not likely to be using it that way, but attacks only get better, and it's a good springboard into more research to break SHA-512 in the same way MD5 is broken.
However, out of all the Hash functions available, the SHA-2 family is currently amoung the strongest, and the best choice considering commonness, analysis, and security. (But not necessarily speed. If you're in embedded systems, you need to perform a whole other analysis.)