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The server I’m working with only supports .NET 2.0. I have an application which works with user accounts and I want to hash the passwords for obvious reasons. Unfortunately, System.Security.Cryptography seems only to be supported on .NET 4.0.
What are my options?
You should use System.Security.Cryptography, which has existed since .Net 1.0.
Specifically, you should use an iterated salted SHA512 hash.