MD5 does not decrypt anything. It is considered a one-way hashing algorithm. For this input, a fixed-length string is returned. In addition, for two given inputs, which are quite similar but not identical, the return value of md5 will not be predictable.
Hashing is useful for many things, for example, for checking files. Although without a topic, if you took the file and calculated the hash for it, and then sent the file to someone along with the hash, they could easily verify that they received the file correctly by hashing it themselves, and then claiming that their hash matches the provided hash .
Another example would be site authentication. After user authentication, you start a session, and in this session you store md5 (username + time), and also save cookies in the md5 users browser (username + time), and then on subsequent page requests you can verify that the hash of the session matches the hash cookie to claim that the user is who they say. Md5 is not a good hash for this type of thing, but hashing in general can help in such situations. sha1 will be the best hash function for this application or even sha512.
Chris
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