In a system were both sides have access to a common secret, and publicly exchange an iteration count and salt, can a PKCS#5 (Password-based Encryption Standard) algorithm be used to generate a key suitable for use as a session key to support AES encryption of a small stream (<1Mb) of data?
My question is: can both sides run the algorithm--given the "common secret", publicly available salt, and iteration count--and then generate the same key?
The intention is that a new session key would be generated via this process for each new connection.