How can the use of password_hash() and password_verify() functions improve the security of password handling in PHP applications?

Storing passwords in plain text in PHP applications poses a significant security risk, as they can be easily compromised if the database is breached. By using the password_hash() function to securely hash passwords before storing them in the database and the password_verify() function to verify passwords during login, the security of password handling in PHP applications can be greatly improved.

// Hashing a password before storing it in the database
$password = "secret_password";
$hashed_password = password_hash($password, PASSWORD_DEFAULT);

// Storing $hashed_password in the database

// Verifying a password during login
$user_input_password = "user_input_password";

if (password_verify($user_input_password, $hashed_password)) {
    // Password is correct
    // Proceed with login
} else {
    // Password is incorrect
    // Display error message
}