> I'm not sure if bcrypt/blowfish is still the recommended algorithm or there's newer better ones
While bcrypt is already much, much better than using MD5 or SHA256, the best practice is to use Argon2.
In practice, it is more important to use a hashing algorithm that is designed for passwords (e.g. bcrypt, argon2, scrypt) than it is to choose the best one. As this breach shows, many sites are still using insecure hashes, like MD5, because it worked 15 years ago.
While bcrypt is already much, much better than using MD5 or SHA256, the best practice is to use Argon2.
In practice, it is more important to use a hashing algorithm that is designed for passwords (e.g. bcrypt, argon2, scrypt) than it is to choose the best one. As this breach shows, many sites are still using insecure hashes, like MD5, because it worked 15 years ago.