Polynomial Time Algorithm for Graph Isomorphism Testing
For some more discussion of this particular paper, see this thread on a related Wikipedia talk page. Some of the participants in that discussion found specific bugs, and the paper does not seem to have been updated in response. I tried to read it myself but rather than finding any specific bugs I just got lost in vague descriptions of matrices and matrix manipulations that did not make clear which variables were inputs and which were outputs. Based on that experience I don't think the paper should be taken seriously until it's passed some level of peer review (accepted to one of the usual journals or conferences).

More generally, it is easy to define algorithms for graph isomorphism that attempt to amplify some sort of subtle asymmetry in the graph to the point where it is obvious how to match the vertices to each other, and it is hard to find counterexamples for these algorithms, but that is very difficult from having a clear proof of correctness that works for all graphs.