Here is a little conundrum for you: If you use a hash algorithm like CRC-64 then how many bytes in a string would be necessary to read to calculate a good hash? Lets say all your strings are at least 2 KB long then it seems a waste or resources using the whole string to calculate the cache, but just how many characters do you think is enough? Would just 8 ASCII-characters be enough since it equals 64-bits? Wont using more than 8 ASCII characters just be pointless? I want to know your though on this.
Update: With a 'good hash' I mean the point where the likelihood of hash collisions can not get any less by using even more bytes to calculate it.
What are the chances that the first 8 letters of two different strings are the same? Depending on what these strings are, it could be very high, in which case you'll definitely get hash collisions.
Hash the whole thing. A few kilobytes is nothing. Unless you actually have a need to save nanoseconds in your program, not hashing the full strings would be premature optimization.