Adler32 has an entirely different purpose than MD5. Adler32 is a checksum. MD5 is a secure message digest. Adler32 is for quick hashes, has a small bit space, and simple algorithm. Its collision rate is low, but not low enough to be secure. MD5, SHA, and other cryptographic/secure hashes (or message digests) have much larger bitspaces and more complex algorithms, thus have far fewer collisions. Compare SHA2-256, for example; 256 bits compared to Adler32's measly 32 bits.
Adler does have its purpose, in hash tables for instance, or rapid data integrity checks. Still, it is not designed with the same purpose as MD5 or other secure digests.
BTW, if a simple but somewhat reliable checksum is what you need, then it seems Fletcher out-performs Adler. I'd speculate they both out-perform CRC, though perhaps not a simple addition based checksum (though it is very prone to collisions). If you want BOTH performance AND security, then use BOTH algorithms. Have the checksum algorithm used as a quick calculation and lookup, then use the larger digest for a more thorough confirmation if found.
To answer your question on ensuring the validity of archives, I would say that it would probably suffice just fine. Best choice? Questionable. Possibility of error? Very low.