He's talking about KeePass's key derivation algorithm - SHA256 the password, make a random 256 bit key, AES-encrypt the hash N times using the key, and SHA256 the result.
10 million iterations is about a second of work on a typical desktop.
10 million iterations is about a second of work on a typical desktop.
With the 10 million config, opening the password database takes just a bit over a second on i7-4800MQ which should come with AES-NI. I can't say if the software is using that or not.
On my Android it takes 4 seconds, so very acceptable still.