Someone told me that he has seen software systems that:
It is not yet possible to put in a hash of a password into an algorithm and get the password back in plain text because hashing is a one way thing. But what people have done is to generate hashes and store it in a big table so that when you enter a particular hash, it checks the table for the password that matches the hash and returns that password to you. An example of a site that does that is http://www.md5online.org/ . Modern password storage system counters this by using a salting algorithm such that when you enter the same password into a password box during registration different hashes are generated.