Yeah... for serious research, a PhD definitely helps (unless you have a great deal of experience in the field that leads you to it).
By definition, a Masters degree shows that you are a Master of a field of endeavour... You are able to work at a high, skilled level and given a problem, you can solve it in an effective way.
A PhD, by contrast, is a Doctor of Philosophy - someone who is skilled in being able to assess the state of the field and then take a conceptual step beyond that.
Therefore, a PhD definitely helps in finding research positions, since research is what we do. Ultimately, research isn't the true goal of a Masters program; rather, it aims to develop and qualify people who are highly skilled in an existing manner.
That said, some Masters students do some great research in their projects that shows all the hallmarks of a good researcher and ought to indicate that those are good candidates to pursue a PhD or some other position. Some Masters projects are genuinely brilliant, deserve recognition and should achieve interest from institutions and organisations who want to snap up someone that they can groom into a good researcher.
In short, if you do a great project, you might be able to use that to acquire a research position, but that isn't the prime objective of a Masters program, and you'll be going against the expectations of a Masters degree vs. a PhD. No matter what happens, unfortunately, an institution or organisation is far better off employing a PhD graduate with a pile of papers and articles than a Masters graduate with a single good project, no matter how you look at it.
Sorry :-/