I've just dreamed up a new interesting project which could - if successfull - change the definition of password hashing: An algorithm which is simple, very secure (not decryptable by anyone), and fast. It would be very nice for databases!
Currently, it's a bit kind of too simple and - of course - not as secure as it will be with the first major version of it. If you're interested, view it here, and contribute: https://github.com/Jojatekok/SelfHash