Hi Peter,
You can do the following: create your own macro that will generate hash on email address. Here is custom macro tutorial.
And there are Kentico API methods you can use from the code to generate hash and validate it later:
new EmailHashService().GetEmailHash(email);
new EmailHashService().ValidateEmailHash(hash, email);
Also, the following article may be helpful for you (not email, but parameter-based hashing).