Why is hashing a better method for storing passwords compared to encryption?

Using hashing for password storage is considered a superior method primarily because hashes are generally irreversible. This means that once data has been hashed, it cannot be converted back to its original form. This characteristic is essential for password security since it minimizes the risk associated with compromised data. If an attacker gains access to a system’s stored passwords and they are only hashed values, they cannot retrieve the original passwords from them, thus helping to protect user credentials.

In contrast to encryption, which is designed to be reversible and requires a key for decryption, hashing does not have this capability, making it more secure for storing sensitive information like passwords. Even with powerful computing resources, correctly hashed passwords with appropriate algorithms are resistant to reverse engineering, especially when combined with techniques like salting, where random data is added to the password pre-hash.

The other choices do have relevant points in certain contexts, but they do not capture the fundamental security advantage that makes hashing the preferred choice for password storage. Hashes might not always be faster, and while storage space requirements may be lower in some situations, the critical aspect remains the irreversible nature of hashing.