md5. Not that it really makes much difference.
It does to me because it lets me know the overall likelihood of a hashed password being recovered due to significant differences between the hashing algorithms.
MD5 is unfortunately a very weak choice of hash compared to other contemporary options. There really is no reason to not be using SHA-512 at this point in time and the administrators would be wise to reconsider their choice of MD5. Anyway, we can take away the emotional fear of a hashed password being recovered by looking at the statistics:
I believe the passwords here can consist of mixed upper and lower case alphabetic characters plus numbers, so this gives 62 different possible characters.
If you had an 8 letter password that was random, the total hash space is 62^8. To put that in to context, 62^8 = 2.18340106 × 1014 total amount of possible different passwords, which is, a relatively huge number. (This presumes the hashes were unsalted, which would increase the hash space significantly).
If someone were to generate a hash for each password that 62^8 allows, you would need approximately 6.2 pebibytes of hard drive space to store every hash. You would then need a supercomputer or cluster of supercomputers to find your hash in that table. Alternatively you could generate the hashes as you go.
It is therefore unviable that any random 8 letter password could be recovered from the MD5 hash alone by civilian or corporate resources. It could be viable for an intelligence agency to recover your password from a hash, however it would be a very expensive use of cracking resources and could take days, weeks, or even years depending on how much processing power was allocated to the recovery. There does however always remain the possibility that the cracker gets lucky and recovers the password on the first random guess, however the odds of this happening are so low one should not concern themselves with this consideration.
If your password was weak though, either in respect of being a word in the dictionary, less than 8 letters long, or even a variant of a word in a dictionary, you have shot yourself in the foot and have
dramatically reduced the time to recoverability of the password, even by motivated civilians. I would suggest to anyone who engages in this malpractice to seek a random password generator a generate a 10 letter password and remember it. Sure it will be hard at first, but you'll get there.