How to calculate collision probability using md5?
2 answers
Check out the Birthday Paradox to help you analyze this. In short, since MD5 is a 128-bit hash, you need 2 elements of 64 before the chance of collision rises to 50%. There's an assumption there that MD5 is spread evenly across this 128-bit space, which I believe it doesn't, but comes close.
If you want to get an idea of how these numbers overlap with your key space, let's say all your keys are 256 characters, you have 26,256 possible keys, or 2 1023, and of course you have a 100% chance of collisions after 2 128 : )
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