Strongbox implements many cryptography algorithms.
For KeePass based files, Strongbox uses AES, TwoFish, Argon2D, ChaCha20 and Salsa20 along with SHA256 for digests and HMACs.
For Password Safe based files use TwoFish in CBC Mode, SHA256 and RFC2104 HMAC. This is all put together following the Password Safe design which you can learn more about here: https://en.wikipedia.org/wiki/Password_Safe