[Feature Request]: Allow alternate hashing config for the cache

[natoverse]

Is your feature request related to a problem? Please describe.

Right now we use md5 to hash parameters for the cache. There are more modern hashes with lower likelihood of collision such as sha512.

Describe the solution you'd like

Add alternate hash strategies to cache config. This would be relatively easy to just swap in, but if we did so all existing caches will become invalidated. Therefore, leaving md5 as the default (potentially with some deprecation warning or scheduled default migration to an alternate) will allow existing caches to remain intact while providing future users the option for more robust caching.

Additional context

No response