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Hashing algorithms like SHA-256 have a very interesting property, they are designed to be extremely fast (even with large amounts of data). That lets you generate millions of hashes per second on any modern CPU (much faster with GPUs). Salting doesn't help much because if your DB is compromised, you are still open to brute force or dictionary attacks.

BCrypt is a very good algorithm for hashing passwords because it's very slow (compared to SHA-x) and thus are extremely time consuming for an attacker. BCrypt also allows to incorporate a "work-factor" which makes the hashing even slower; that allows us to choose a higher work factor when more powerful computers become commonplace.

There are a lot of articles online that discuss this subject.

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