Cryptographic Collision, in practice, should never occur for Secure Hash Algorithms.
However if the Secure Hash Algorithms has some flaws, as SHA-1 does, a well-funded attacker can craft a Cryptographic Collision.
The attacker could then use this Cryptographic Collision to deceive systems that rely on hashes into accepting a malicious file in place of its benign counterpart.
Here are some numbers that give a sense of how large scale this Computational Hardness Assumption was:
While those numbers seem very large, the SHA-1 shattered attack is still more than 100,000 times faster than a Brute-Force attack which remains impractical.