I'm in the process of moving a Magento store into WooCommerce. The problem is that Magento and WordPress have different password authentication algorithms.
The way Magento stores the password:
The way WordPress stores the password:
Is there a way to export existing Magento customers into WordPress and keep their passwords?
No, there isn't. As you noted, Magento stores its passwords with a salt
Wordpress also stores its passwords with a salt — except the salt is an empty string and the same for everyone (i.e. Wordpress doesn't use a salt).
The is a security feature of Magento's hashing, and is meant to stop exactly the sort of thing you're trying to do.
In theory you could generate a rainbow hash table for each of the unique salts in the database, use this to crack your users passwords, and recreate them in Wordpress with a salt-less hashing. However, that's a non-trivial task if you're not familiar with the implementation of hashing algorithms, and would also take a significant amount of time.
The usual approach to this is to create new accounts in the new system, and then automatically email users a password reset link the first time they attempt to login (with additional messaging explaining things)
You could also look into changing Wordpress's login functionality — but that sounds like a different question.