Molden played college football at the University of Oregon and was on the team that reached the 1995Rose Bowl. He was redshirted in 1991. In 1992 he had 55 tackles, four interceptions, and 19 passes broken up. He suffered a devastating knee injury in the Independence Bowl, and tore his anterior cruciate, medial collateral and posterior cruciate ligaments. He came back after a nine-month rehabilitation to start nine games in 1993. He was selected as an All-Pacific 10 cornerback in 1994, and was an All-Pacific 10/Football Coaches Association All-American and Associated Press second-team All-American in 1995.