What are the best practices for securely storing and handling sensitive data, such as passwords and credit card information, in PHP applications?

Sensitive data, such as passwords and credit card information, should be securely stored and handled in PHP applications to prevent unauthorized access. Best practices include using secure encryption algorithms, hashing passwords before storing them, avoiding storing sensitive data in plain text, and implementing proper access controls.

// Example of securely storing and handling sensitive data in PHP

// Hashing the password before storing it in the database
$password = "mySecurePassword";
$hashedPassword = password_hash($password, PASSWORD_DEFAULT);

// Storing the hashed password in the database
// $hashedPassword should be stored in the users table

// Retrieving the hashed password from the database
$storedHashedPassword = "hashedPasswordFromDatabase";

// Verifying the password during login
if (password_verify($password, $storedHashedPassword)) {
    // Password is correct
    echo "Login successful";
} else {
    // Password is incorrect
    echo "Login failed";
}