Given infinite time, we could approach a string's exact Kolmogorov complexity. If we don't have infinite time, we can still calculate an upper bound on the Kolmogorov complexity of a string:
...simply compress the string s with some method, implement the corresponding decompressor in the chosen language, concatenate the decompressor to the compressed string, and measure the length of the resulting string...(Wikipedia)
Is there an algorithm--guaranteed to terminate within a finite amount of time--that provides a tighter upper bound on Kolmogorov complexity than len(compressed string) + len(decompressor)
?