Molden played college football at the University of Oregon and was on the team that reached the 1995 Rose 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.

Despite the injury, Molden continued his career in the NFL and was a 1st round draft pick in the 1996 NFL Draft. Molden went on to have an extended career in the NFL, playing eight seasons with the Saints, Chargers and Lions.

His son Elijah played college football at Washington and was drafted by the Tennessee Titans in the 3rd round of the 2021 NFL Draft. Currently, Molden is a motivational speaker located in Portland