Can be easily done using custom authentication scheme.
Sample code below :
public SmAuthenticationResult
authenticate(String parameter,
String secret,
int challengeReason,
SmAuthenticationContext context)
{
..
...
UserCredentialsContext theUserCredentialsContext = context.getUserCredentialsContext();
String thePassword = theUserCredentialsContext.getPassword();
String theHashPassword = pbkdf2Hash(thePassword);//custom implementation of pbkdf2 hashing
authUserText = context.getUserContext().authenticateUser(theHashPassword );
}