With my webapp I'm storing cached files with a hash generated filename in various subdirectories to optimize performance levels. One way I know that I could improve performance also would be to ensure that the generated names follow a 8.3 filename structure so NTFS doesn't have to generate short filenames (I won't be able to set that in the registry).
In order to do that though I would have to trim the hash (I was thinking SHA1) to 8 characters, obviously this will increase the probability of collision substantially. What I would like to know is what is the probability of collision?
I've seen the answer here on full SHA1 hash collision rates but my maths is terrible so calculating the value is way beyond me.