Hashed password secure?

From: Jarma (jarmato_at_wp.pl)
Date: 06/28/04 

Date: Mon, 28 Jun 2004 21:13:25 +0200

Is keeping password hashed by e.g. MD5 or SHA secure? I mean verification
would be comparing hash values of key(password) and this hash value would be
easy to obtain (= known). Hash functions are one direction funtions, but
would revealing password's hash value be secure? (I'm thinking of
brute-force method among others).

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