Sodium hypochlorite makes water SAFER to drink. It may or may not make it "safe" or "disinfect" the water.
"Treating drinking water using normal doses of disinfectants such as chlorine does not kill Cryptosporidium oocysts. Researchers have found it takes 90 minutes to kill 90 percent of Cryptosporidium oocysts in a water sample treated with 80 milligrams of chlorine per liter of water. Normally, chlorine is applied at about one milligram per liter. Stronger disinfectants, such as ozone, do a better job of killing these protozoans in a shorter time."
http://dnr.wi.gov/org/water/dwg/Crypto.htm
"If you cant boil water, you can disinfect it using household bleach.
Bleach will kill some, but not all, types of disease-causing organisms that may be in the water. If the water is cloudy, filter it through clean cloths or allow it to settle, and draw off the clear water for disinfection. Add 1/8 teaspoon (or 8 drops) of regular, unscented, liquid household bleach for each gallon of water, stir it well and let it stand for 30 minutes before you use it. Store disinfected water in clean containers with covers." [emphasis added]
USEPA
"Don't rely on chlorine or iodine water purification tablets they're not always effective against giardia parasites. Iodine disinfection, for example, must be carried out for at least eight hours."
Mayo Clinic
"Among the seven disinfection treatments, the iodine-based chemicals were all significantly more effective than the chlorine-based chemicals. None of the chemical treatments achieved 99.9 percent cyst inactivation with only 30-minute contact. After an eight-hour contact each of the iodine but none of the chlorine preparations achieved at least 99.9 percent cyst inactivation."
American Journal of Public Health
"Disinfection with iodine or chlorine is not effective in killing Cryptosporidium;
Disinfection with chlorine dioxide has a low to moderate effectiveness in killing Cryptosporidium; Combination filtration and disinfection has a very high effectiveness in removing and killing Cryptosporidium when used with chlorine dioxide and an absolute less than or equal to 1 micron filter (NSF Standard 53 or 58 rated 'cyst reduction / removal' filter)."
U.S. Centers for Disease Control and Prevention ("CDC")