A system for breaking down medical waste for safe disposal includes a novel disposal solution for dissolving and dispersing the medical waste, as well as a hardening agent that solidifies the disposal solution to prevent it from contaminating the environment after disposal. The novel disposal solution includes a dispersion agent that dissolves the medical waste in addition to a neutralizer, which binds to the dissolved medical waste to render it inert. The disposal solution can optionally include defoaming, preservation and/or anti-freeze agents. The system may also include a vessel with a vented cap for storing the disposal solution prior to and during use. The vessel may also be used to discard the disposal solution and broken-down medical waste after the disposal solution solidifies.