Are there any valid, and person readable, checksums possible?
You could use a concept similar to the PGP Word List, which attempts to make a binary-representative equivalent of the NATO Phonetic Alphabet, so that fingerprints (bytes) can be expressed vocally in a relatively unambiguous way.

Of course, using per-byte words in the case of MD5 means you need 16 words to produce a readable checksum, which may be potentially excessive for your purposes. If this is the case, your options are to either truncate the hash (which is potentially not ideal from a security perspective) or to invent additional words codepoints to shorten the total string length. Unfortunately the required dictionary size raises geometrically ($2^n$) whereas the length only reduces linearly, which means you need much larger dictionaries to get slightly shorter strings. You'll have to work out a balance point.