Just stop what you're doing and look at scrypt, bcrypt or even PBKDF2-HMAC-SHA512 if you're thinking something that involves the words "passwords" and "fast hash function." (http://throwingfire.com/storing-passwords-securely/#notpassw...)
http://yorickpeterse.com/articles/use-bcrypt-fool/ http://codahale.com/how-to-safely-store-a-password/
http://yorickpeterse.com/articles/use-bcrypt-fool/ http://codahale.com/how-to-safely-store-a-password/