Seems like a rant against hashing, but using bcrypt at level 10 (like he demonstrates) is just so much better than encrypting. Level 10 takes about a full second on hardware from a couple years ago, which was the last time I checked. Yes, you can verify that one of them is "iloveyou", when you already know that, but any kind of dictionary attack, at one per second, is not going to be a good time. And like he said, if you encrypt, and lose the key too, game over.