Aspects

Md5

Cryptographic hash function with a 128-bit (16-byte) hash value

Pbkdf2

PBKDF2 (Password-Based Key Derivation Function 2) is a key derivation function that is part of RSA Laboratories' Public-Key Cryptography Standards (PKCS) series.

Others

Quality | Example |
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More computation |
"So we can use pbkdf2 with sha512 to gain a very significant advantage over the phpass algorithm mainly because sha512 is a harder algorithm with more computation than md5" from question "Is this a good hashing password function in PHP? If not, why not?" |