How to generate Joomla encrypted Password

A. Generate a password
B. Generate a string with 32 random characters
C. Concatenate Password (Step A) and RandomString (Step B)
D. Take md5(Result of Step C)
E. store Step D Result : Step B Result

/******************CODE*************************************/

$password=125454578454;
jimport(‘joomla.user.helper’);
$salt = JUserHelper::genRandomPassword(32);
$password = $password.$salt;
$password= md5($password);
$wk_random_password_final=$password.’:’.$salt;