I often store my password using PHP's password_hash('password', PASSWORD_DEFAULT) function. This function has been baked into the language since version 5.0 I think. I'm sure most other languages must have a similar function too, yet so many sites save the password in plain text. Doesn't make any sense.

v5.5 actually, but there is a userland library to provide the same functionality - https://github.com/ircmaxell/password_compat