Some of these contracts are throwbacks from before the salary cap -- those contracts (Houston is a GREAT example) were given to players with little longterm regard, thankfully, less of that is happening today:
LaFrentz
Michael Dickerson
Brian Grant
Wally World
Jerome Williams
Turkoglu
Eric Snow
Jalen Rose
Juwann Howard
Next, we have really STUPID contracts by stupid GM's:
Dampier (okay, one could argue that big men's contracts are really inflated in todays NBA)
Foyle (see above, but this guy does almost NOTHING on the court)
Martin (umm, he is getting superstar money here for ?)
Fisher (hmm, how much is his .4 shot worth? -- lol)
Cardinal (you just DON'T pay this amount of money for a role player)
Malik Rose (did his contract date back before the salary cap? I don't think it did but his contract is a little high)
Ratliff (wow, when was this contract signed -- that's a LOT of money for a center who isn't a vital piece of your team)
Rasho (see overinflated big men contracts)
Last, we have players who are paid superstar money because they are great players but they will NEVER lift their team to success:
Gasol (a great player but is he worth this kind of money?)
Marbury (wow, $20 mill a year -- this may fall partly under #1 but this is a joke -- of course, he is playing for the right team when it comes to joke contracts)
Randolph (well, he's a 20/10 player if his team plays him the minutes but many argue that he doesn't make his team better -- and some argue that he makes his team worse)