Why I Hate Hanon
Hanon has been a staple in piano technique.
The russians would practice the exercises in all 12 keys at ridiculous speeds.
Is there a better way?
I'm not a fan of exercises for their own sake like Czerny or Hanon. I find them dull and boring and wastes a lot of time.
The biggest problem I see for most musicians is that finger dexterity is not their limiting factor. There are so many skills like rhythm, music theory, phrasing, and note reading. Time would be much better spent working on those skills. Especially in the early stages of learning.
Even today, I don't ever see the need for myself to practice Hanon. If I want to work on finger dexterity why not work on a Chopin or Moskowski etude? They will accomplish similar goals but will also teach you music and phrasing.
Instead, why not work on real music? It is much more enjoyable and engaging.