[OT] "Shrinking" IDs in SQL Server

Hello I was hoping some of the SQL experts here could help with a problem I am facing. Currently have covid too so perhaps I'm not thinking clearly... Long story short, is there a way in SQL Server to convert strings (varchars) of any length to exactly 32, keeping uniqueness? It would also be nice if I could convert them back to ensure I haven't lost information. Briefly, the reason I want to do this is my target is varchar(32) but the IDs I am dealing with are made up of composite business keys of larger length. I need to be able to use the current business keys and generate unique 32 character equivalents in a deterministic way. Appreciate any advice. Thanks Tom