What are namespaces in PHP and how do they affect XML parsing?

Namespaces in PHP allow for organizing code into logical groups, preventing naming conflicts and improving code readability. When parsing XML with namespaces in PHP, it is important to specify the namespace when accessing elements or attributes. This can be done using the `->children()` method in SimpleXMLElement or by using the `->children()` method in DOMDocument.

$xml = '<root xmlns:ns="http://example.com"><ns:element>Value</ns:element></root>';
$doc = new SimpleXMLElement($xml);

$ns = $doc->getNamespaces(true)['ns'];
$value = $doc->children($ns)->element;

echo $value; // Output: Value