Out of the box, SquishIt appends hashes based on the file content to all of the files that it manages. This used to be MD5 but I believe
You can plug in a custom hasher (if you wanted to store a release date in a config file or something to use instead and use that) but the default implementation should work.
You can configure it using something like this in Global.asax.cs App_Start method:
Bundle.ConfigureDefaults().UseHasher(new MyCustomHasher());
Hope this helps,
Alex