MD5 collisions with 10% of the size of the file can be found in seconds on a old laptop computer. I've done it, we assign it as HW in class.
Read this http://www.mathstat.dal.ca/~selinger/md5collision/
Notice that the two colliding exe are exactly the same file size. These attacks have only gotten better.
>Zip is an extremely good format for crafting fake files which match a checksum. Really any format which can take arbitrary metadata (which is MOST) is pretty easy.
The example I gave uses windows and linux executables. No zip files in sight. These attacks are from 2009.