It is time. Bruce Schneier reports that SHA-1 has been broken. He writes:
SHA-1 has been broken. Not a reduced-round version. Not a simplified version. The real thing.
The research team of Xiaoyun Wang, Yiqun Lisa Yin, and Hongbo Yu (mostly from Shandong University in China) have been quietly circulating a paper announcing their results.
This really is a big thing, as SHA-1 is used in a lot of protocols for hashing. For more info on collisions check wikipedia out.
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