Insecure Cryptography is a general vulnerability in which the encryption algorithm chosen for use cases such as authentication, integrity checks, signature verification is weak and susceptible to attacks. Typical attacks exploit the algorithms collision characteristics, i.e. the ability of the attacker to control/predict what the algorithm produces for two different data inputs. If an attacker was able to identify a collision of two inputs that produce the same output, they would be able to identify the original text.
Impact of Insecure Cryptography
If an attacker can exploit a poorly chosen encryption algorithm, this may allow for an attacker to decrypt the text and violate data confidentiality and/or message integrity.
Fixes for Insecure Cryptography
Reconfigure the service to use a strong encryption algorithm along with key lengths that provide a minimum of 112-bits of effective key strength.
Examples of industry-tested and accepted standards and algorithms include AES (128 bits and higher), RSA (2048 bits and higher), ECC (224 bits and higher), and DSA/D-H (2048/224 bits and higher).
References
CWE-310: Consolidation of Cryptographic Issues
Shattered.IO: How We Broke SHA-1 in Practice
Stack Exchange: What Cryptographic Algorithms Are Not Considered Secure