Is it possible to use an Application Specific Integrated Circuit (ASIC) to brute force MD5 hashes and thus reverse them down to their original form? I know there could be multiple collisions, but leaving that aside, would it be possible? The idea interests me because I happen to have ASIC Miner Block Erupters which are ASIC's used to generate the SHA-256 hash, but why not MD5? Thanks in advance.
A brute force attack is futile as there are 2^128 MD5 hashes. If you could compute 10^18 (that's a billion times a billion) hashes per second it would still take billions of years to find a single collision (unless you are extraordinarily lucky). Terahashes per second is not nearly enough. 2^128 / 1 terahertz is in the order of 10^26 seconds, which is about 10^19 years.
MD5 is broken, but broken does not imply "feasible to brute force", only "feasible to attack in some manner (probably more sophisticated than brute force)".