Passwords are the keys to our online identities, and as a result, they're also near the top of the target list for attackers. There have been countless breaches in the last few years in which unencrypted passwords have been stolen from a database and leaked online, and security experts often shake their heads at the lack of use of encryption or even hashing for passwords. Now, a group of cryptographers is sponsoring a competition to come up with a new password hash algorithm to help improve the state of the art.