I'm starting to believe that this isn't accurate at all. Seems like the length of time it will take to crack is based off of how many characters there are.

Well yes, yes it is. The program that the website is getting its results from goes through every possible combination starting with one character, then 2, then 3 etc. until it gets the correct password.

What's the point then? I've heard of hackers doing it shitloads faster than that.

It's a brute force. It isnt a program that hacks around the system to give you the password, it just guesses constantly till it finds the right answer.

Also the time given represents how long it would take to go through every sequence possible to find said password. It doesnt mean it will necessarily take that long though. The program might get lucky and find the password on the 128490284092th try instead of the 59021849021849021480921582910589021589014829014821 90th ;o Assuming it's random I guess. I cant say i know the brute force does it given some random unknown pw.