one way password encryption

From: PJones (pjones_at_hotmail.com)
Date: 10/24/04 

Date: Sun, 24 Oct 2004 11:52:16 -0400

I am looking for the best way to one way encrypt a password for storage in a
database using (asp.net / vb.net)
basically I need some functions or examples that I can freely use in a
commercial project

anyone got any good functions or links I can look at ?

I was looking at MD5 hash .. the examples I saw confused me as I didn't see
a key ?
Does MD5 not used a key ?

I was also looking into SHA-1

I figure if I am going to do this I might as well make it a good as possible
within reason

any help or pointers is appretiated

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