Bruce Schneier reports that SHA-1 is broken.  While the supposed newly discovered weakness in SHA-1 algorithm reduces it's strength by about factor of 2000, SHA-1 is still strong enough for a few years at least in most applications.  However, if you are using SHA-1 to produce artifacts whose validity is irrefutable over a long time (i.e. digitally signed birth certificate) or is of high value (digitally signed deed to a 25-story building in downtown Tokyo), then you got a problem because they are basically sitting ducks waiting to be forged.