I know on SuSE's linux distribution, they use Blowfish as their optional higher security password encryption. Here is a simple example( there are also PP PurePerl version of Blowfish , although it is probably slow.)

#!/usr/bin/perl
# by Tachyon 
use Crypt::Blowfish;
use Crypt::CBC;

$KEY = 'GNUisnotUnix';  # Blowfish will take 56 bytes (448 bits) of ke
+y 
my $cipher = new Crypt::CBC( $KEY, 'Blowfish' );

my $enc = encrypt('Hello World');
my $dec = decrypt($enc);
print "$enc\n$dec\n";

sub decrypt { defined $_[0] ? $cipher->decrypt_hex($_[0]) : '' }
sub encrypt { defined $_[0] ? $cipher->encrypt_hex($_[0]) : '' }
__END__
[download]

Although I agree with the sentiment that you are not negligent using MD5, since it takes alot of cpu power to crack MD5, and the spy-guys have easier ways to get your passwords if they really want them. They keep it a big secret how they do it, but it's pretty easy, and even Blowfish won't help you against them.