For legacy support with a wider range of PHP versions, Wordpress opts to use PHPASS (a portible password hashing library) which Wordpress defaults to  …

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Algorithmia

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For legacy support with a wider range of PHP versions, WordPress opts to use PHPASS (a portible password hashing library) which WordPress defaults to using a MD5 based hash.
The security of your password hashes can be improved by using a modern password hashing algorithm, such as BCRYPT for PHP 5.5+ or ARGON2I for PHP 7.2+
This plugin aims to improve the security of the hashed passwords by using PHP 5.5’s password_hash() function and the BCRYPT algorithm but also supports the newer ARGON2I algorithm.
For extended support when password_hash() is not available this plugin will fallback to using PHPASS with additional security when compared to the WordPress defaults.

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