What potential issue could arise when using MD5 encoding for passwords in PHP?

Using MD5 encoding for passwords in PHP is not secure because MD5 is considered a weak hashing algorithm and can be easily cracked using modern computing power. To solve this issue, it is recommended to use a more secure hashing algorithm like bcrypt or Argon2 for password hashing in PHP. 

// Hashing a password using bcrypt
$password = "password123";
$hashedPassword = password_hash($password, PASSWORD_BCRYPT);

// Verifying a password using bcrypt
$enteredPassword = "password123";
if (password_verify($enteredPassword, $hashedPassword)) {
    echo "Password is correct!";
} else {
    echo "Password is incorrect!";
}

Keywords

MD5 encoding passwords security vulnerability hashing algorithm rainbow table

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