What are the potential risks and benefits of using dynamic salt in combination with SHA512 and Whirlpool for password hashing in PHP?

Using dynamic salt in combination with SHA512 and Whirlpool for password hashing in PHP can increase the security of the hashed passwords by adding an extra layer of complexity to the hashing process. This can help protect against common password cracking techniques such as rainbow tables. However, it is important to ensure that the dynamic salt is securely generated and stored to prevent potential security vulnerabilities.

// Generate a dynamic salt
$dynamic_salt = bin2hex(random_bytes(16));

// Combine dynamic salt with user's password
$combined_string = $dynamic_salt . $password;

// Hash the combined string using SHA512
$hashed_password_sha512 = hash('sha512', $combined_string);

// Hash the hashed password using Whirlpool
$final_hashed_password = hash('whirlpool', $hashed_password_sha512);