Do you know the contexts your hashing requirement is likely to be used in, and/or may be adapted to?
The worst and most persistent security problems emerge when someone defends half-assery as acceptable because, take your pick, it's a quick hack / it's a personal project / it's a small project / it's not used for critical infrastructure.
Until eventually is one or more of the above are violated.
The primary advantage of MD5 is that the hashes are (slightly) shorter than those of other checksum methods. This makes it slightly more convenient to manually compare or transmit hashes.
My problem is that I happen to have used md5sum so often and for so long that it's wired into my own wetware and muscle-memory, and I'm not sure which of the alternative SHA sums I should use, and which of those are widely available. I honestly don't know the answer to that off the top of my head, and "what to use instead of md5sum" as a DDG or Google search doesn't turn up a clearly useful answer. "sha1 sha256 sha384 sha512 which to use" does better.
And locally I've got utilities for SHA 1, 224, 256, and 512 installed, that I can tell.
Looks as if SHA-2 and SHA-3, which include keylengths of 224-512, are considered secure:
http://en.wikipedia.org/wiki/Secure_Hash_Algorithm
Then there are some openssl utilities. But let's not go there.