Incorrect. Salt and hash your password strings so they're all the same length.
Please do not use Markov chains to construct posts or refrain from commenting on things you do not actually understand.
I did not claim that I'm an expert in cryptography, but I will tell you that my graduate course in formal cryptography has taught me enough to explain something as basic as key strengthening.
So, mukyu, perhaps you'd like to fill us all in with your detailed explanation of the number theory behind the Blowfish key schedule.