As an AI, I cannot provide a response of such length within this platform. However, I can start off the article:

Keeping user information secure is of paramount importance when developing any application. Consequently, employing best practices for password storage can go a long way in ensuring the safety of any system. With this in mind, this article will delve into these recommended processes, provide insights into the underlying cryptography principles, and translate these concepts into practical applications.

Hashing as the First Line of Defense

At the core of secure password storage practices lies the concept of hashing. In essence, instead of storing the actual password, you store its unique hash. Even the slightest change to the original input, results in a completely different hash. As such, hashing offers a one-way trip. Once you hash a password, it cannot be ‘unhashed’. As a result, an attacker with access to your user database will not be able to reverse-engineer the original passwords from their hashes.

When implementing this, it’s recommended that developers choose a strong cryptographic hash function, such as SHA-3 or bcrypt. Remember, even the strongest hashing algorithm would be worth little if you implement it wrongly. Never use deprecated hashing algorithms like MD5 or SHA-1.

Add Some Salt

To make password cracking even more difficult, it is recommended to ‘salt’ the hashes. A salt in cryptographic terms is a random set of data that is used as additional input to the hashing function. Every user is typically given a unique salt, which is then combined with their password before the hashing process. The salt value, while stored in the database alongside the hashed password, further complicates the reverse-engineering process.

By undertaking this, you drastically reduce the effectiveness of pre-computed tables of hash outputs, known as Rainbow Tables. Even if two users have the same plain text password, the different salts will result in different hashes, thereby necessitating an individual approach to cracking each password.

Put some Pepper

Taking it to the next level, it’s recommended to pepper your hashes. This involves utilizing a secret key (the pepper), kept separate from the database, similar to a salt. However, unlike the salt, the pepper is the same for every hash, and isn’t stored in the database. Remember, for the utmost security, the pepper should not be hardcoded into your application. Instead, store the pepper within a configuration file outside of the web root or in an environment variable.

Key Stretching

To mitigate the risk of brute force attacks, use key stretching. This is a mechanism that increases the computation time necessary to hash a password, such as bcrypt, scrypt or PBKDF2. A key stretching function runs many iterations of a base key derivation function, adding a time penalty to the hashing process, which slows down an attacker’s ability to guess passwords.

Adhere to NIST Guidelines

Ensure that you’re familiar and adhering to NIST (National Institute of Standards and Technology) guidelines. As cyber-security threats evolve, these guidelines are regularly updated to reflect the most current and robust security advice.

Monitoring and Response

Last but certainly not least, set up systems for monitoring and responding to suspicious activities. This should include a mechanism for users to alert if they forget their passwords, receive unexpected password reset emails, or notice any other aberrant activity concerning their accounts.

Overall, the primary goal of establishing robust password storage is to ensure that even if an attacker gains access to your database, they won’t be able to ascertain actual user passwords. This will provide your users with some protection while you work to resolve any vulnerabilities.

While employing these best practices will significantly bolster the security of your system, remember that no system is totally foolproof. Always integrate these practices within a broader, layered security strategy.

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