What are some alternative hashing algorithms recommended for password security in PHP?

When storing passwords in a database, it is important to hash them securely to protect user data in case of a breach. The default hashing algorithm in PHP is `password_hash()` with the `PASSWORD_DEFAULT` algorithm, but it is recommended to use stronger algorithms like `PASSWORD_BCRYPT` or `PASSWORD_ARGON2I` for better security.

// Hashing a password using PASSWORD_BCRYPT algorithm
$password = "secret_password";
$hashed_password = password_hash($password, PASSWORD_BCRYPT);

// Verifying a password
$entered_password = "secret_password";
if (password_verify($entered_password, $hashed_password)) {
    echo "Password is correct";
} else {
    echo "Password is incorrect";
}