Is "faster" always a good thing in hashing algorithms? Suppose a hashed password database falls into wrong hands. If they're hashed with a faster algorithm wouldn't it be easier to try a dictionary attack to discover the real passwords?
These functions usually use hashes as a primitive, but there is more to them than that. Using a plain hash to store passwords is usually a red flag that the storage is insecure. I see it when doing source code audits: some legacy software using md5 without a salt.
To be precise I think security community should make an effort to separate the two terms more often. I've been trying to be more precise when writing and reviewing assessment reports.