They're free, they involve writing actual code to break actual crypto constructions, and they seem to be pretty popular; our standings right now: level 0 (6687), level 1 (490), level 2 (156), level 3 (50), level 4 (36), level 5 (29), level 6 (37).
Let's say my experience with cryptography and web security can be summed up with 'using bcrypt' and 'using ssl.' Would I be able to learn from this or would I need to seek out something more basic first?
You can learn from it, they explain how to go about solving them pretty well. I solved the first set in a few minutes and am trying to find time to do the second one, they are pretty fun.
https://www.coursera.org/course/crypto