hashed passwords in cookies
===

Site Security:
Users either login fresh
or
password is pulled from cookie and they are logged in (or rejected if the cookied password is invalid).
+
Multiple failed login's leads to rejection.

The passwords are md5 hashed and salted with a random number .

My question is, is this inappropriate?

I understand it is not perfectly secure.  Someone could access the user's cookies, crack the hashed cookie and then know that users password.

But, is it reasonably secure and is it somehow unethical in the sense that storing plain text passwords anywhere is unethical?