It’s called a salt because it is something that you add at the last minute in the same way you might add salt to a meal just before eating it.
hash allows you to choose which hashing algorithm to use and so you can use either sha256 or sha512 instead of sha1 by using it. Which you choose is basically a compromise between the level of security and the amount of data you are going to store since to make it a small fraction more secure it generates a much larger value.
sha1 is 160 bits whereas sha256 and sha512 are 256 and 512 bits respectively making them 60% and 220% bigger.