The OWASP site's password storage guidance is particularly bad, and I recommend that developers avoid that page altogether. The page began as a litany of very bad advice (reversible encryption, salted hashes), and when it was pointed out that secure password hashes like scrypt were the right answer, the authors decided instead to "teach the controversy". OWASP is very political, and not managed by computer scientists.
† The post we're commenting on inaccurately says that the hypothetical timing attack it describes has been done before, but links to Boneh's TLS timing attack paper. My guess is that the password hash attack the author was considering has never been tried; among other things, it stipulates a password hash oracle for the attacker.