the one thing I would really like to know is the say so one was able to get the HASH that you use to make the SEED. would a person not be able to then just use a database of words used in the seed to make diffrent combines up and try to crack the wallet.
like right now I know the 1 PC that I have with a wallet on it is 100% safe as its only online when I use it for spending. Wallet is also password protected so for 1 I know that my coins just can't get up and go missing.
on the other hand when i'm thinking of these hardware wallets it always comes to my mind how about if some one was able to crack the HASH and just crack wallets like that. what stops a hacker / cracker from doing that now ?
The seed has an entropy of 256 bits so it not more crackable than any other seed. It is after encoded using a dictionary of 2048 words (BIP39), but this is just a mnemonic. It is important to understand that the user doesn't choose the words : the words come from the seed.
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These hardware wallets, I mean Trezor, btchip and ledgerwallet solve one of the cold storage problems you have with a paper wallet. You could spend from your coldstorage without exposing all your stash. This problem could be solved with an offline computer running electrum and used to sign transactions built on an online computer, but this is not practical at all.
I see two other problems with cold storage:
1. Backup of the seed
2. transmission to your relatives if you die
Backup of the seed is problematic because if you just make a copy of the seed and put it in a safe place, you still have many risks. Fire and theft are the main ones. To avoid fire, you could make many copies, but theft risk increased. To avoid theft, you could put it in a vault, but i don't like banks.
One elegant solution is passguardian, but the output is not elegant (hexadecimal). I tried to provide a more elegant version:
http://passguardian.com/. It splits the secret as passguardian does, but output is made of words rather than hexadecimal. This solution is just a proof of concept and need to be tested, adapted to bip39 and integrated in some wallet. Ledgerwallet is a good candidate for this.
I don't have any elegant solution for transmission to relatives.