What are some potential pitfalls of using the PASSWORD() function in MySQL for password encryption in PHP scripts?

One potential pitfall of using the PASSWORD() function in MySQL for password encryption in PHP scripts is that it uses a non-reversible encryption method, making it difficult to compare hashed passwords for authentication purposes. Instead, it is recommended to use PHP's password_hash() function to securely hash passwords using bcrypt algorithm, which provides better security and flexibility for authentication.

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

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