Earlier quoted context omitted.
> huge lookup databases "Huge" being the key word here. Try searching for the md5sums of arbitrary 8-character alphanumeric passwords. You won't find many results. 62^8 is a big number.
I believe that with GPUs it's now faster to calculate possible MD5s on-the-fly than use rainbow tables. Hence the current advice is to use "alongpassphraseasyourpassword" rather than "L33$Pa55wd"
Why? Is it not being hashed? I have a (possibly very wrong) inkling that a longer phrase might increase the chance of collision but even so, so many places enforce a strong password but force you to keep it short.