I have been working on this encryption alg. on and off for over six years. I call it the Chameleon cipher. Normally you create an account, the hashed salted password is stored and then the attackers build a database to try to guess your hash. Yes, I know there are many steps to last sentence. Here is an encryption I did on an md5 hash. Here is the way to use this.
client enters their password - a hash is created.
The hash is encrypted with a cipher text that changes randomly every time the user logs in. All this is done in the back ground even though they enter the same password.