Of all the forms of CAPTCHA available, which one is the \"least crackable\" while remaining fairly human readable?
If you're just looking for a captcha to prevent spammers from bombing your blog, the best option is something simple but unique. For example, ask to write the word "Cat" into a box. The advantage of this is that no targeted captcha-breaker was developed for this solution, and your small blog isn't important enough for someone to actually develop one. I've used such a captcha on my blog with some success for a couple of years now.
If you wanted you could try out the Microsoft Research project Asirra: http://research.microsoft.com/asirra/
Just.. don't.. There are several reasons use of captcha is not advised.
http://www.interfacegeek.com/dont-ever-use-captchas/
As far as I know, the Google's one is the best that there is. It hasn't been broken by computer programs yet. What I know that the crackers have been doing is to copy the image and then send it to many phishing websites where humans solve them to enter those websites.
I believe that CAPTCHA is dying. If someone really wants to break it, it will be broken. I read (somewhere, don't remember where) about a site that gave you free porn in exchange for answering CAPTCHAs to they can be rendered obsolete by bots. So, why bother?
Anyone who really wants to break this padlock can use a pair of bolt cutters, so why bother with the lock?
Anyone who really wants to steal this car can drive up with a tow truck, so why bother locking my car?
Anyone who really wants to open this safe can cut it open with an oxyacetylene torch, so why bother putting things in the safe?
Because using the padlock, locking your car, putting valuables in a safe, and using a CAPTCHA weeds out a large spectrum of relatively unsophisticated or unmotivated attackers. The fact that it doesn't stop sophisticated, highly motivated attackers doesn't mean that it doesn't work at all. Using a CAPTCHA isn't going to stop all spammers, but it's going to tremendously reduce the amount that requires filtering or manual intervention.
Heck look at the lame CAPTCHA that Jeff uses on his blog. Even a wimpy barrier like that still provides a lot of protection.
It doesn't matter if captchas are broken or not now -- there are Indian firms that do nothing but process captchas. I'm with the rest of the group in saying that Captchas are on their way out.