Crypto - MD5

Hmm.. Some interesting results from the Crypto 2004 conference.
Some Chinese researchers have an algorithm to generate MD5 collisions in an hour on a single IBM P690. (Previous algorithms were looking at taking several years, on much larger amounts of hardware.)
Another talk demonstrated that SHA-1 is weaker than originally thought (but still considerably secure in terms of required processing power).

This doesn't mean the internet will fall over tomorrow, but it's an interesting development.