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@Debarghya-Banerjee Thank you for creating the pull request.

Unfortunately, this isn't the approach that will be needed. wp_verify_fash_hash() will need to remain unchanged, the functionality that will need a change is for application passwords.

In WP_Application_Passwords::create_new_application_password() the variable $hashed_password will need to be modified to use wp_hash_password()

In wp_authenticate_application_password() the password check will need to be modified to use wp_check_password()

With those changes, it should be possible to remove the methods introduced in WP 6.8 from WP_Application_Passwords