How can hashing passwords improve security in PHP applications, and what functions should be used for this purpose?

Hashing passwords improves security in PHP applications by converting the plain text password into a hashed value that cannot be reversed to obtain the original password. This ensures that even if the database is compromised, the passwords remain secure. The recommended functions for hashing passwords in PHP are password_hash() for hashing and password_verify() for verifying hashed passwords.

// Hashing a password
$password = "mysecurepassword";
$hashedPassword = password_hash($password, PASSWORD_DEFAULT);

// Verifying a password
$enteredPassword = "mysecurepassword";
if (password_verify($enteredPassword, $hashedPassword)) {
    echo "Password is correct!";
} else {
    echo "Password is incorrect!";
}