What are the potential risks and benefits of using multiple levels of hashing for password security in PHP?

Using multiple levels of hashing for password security in PHP can provide additional layers of protection against brute force attacks and rainbow table attacks. However, it can also increase the computational overhead for both the server and the user during the authentication process.

// Example of using multiple levels of hashing for password security in PHP
$password = "secretPassword123";

// First level of hashing
$hashedPassword = password_hash($password, PASSWORD_DEFAULT);

// Second level of hashing
$hashedPassword = password_hash($hashedPassword, PASSWORD_DEFAULT);

// Verify password
if (password_verify($password, $hashedPassword)) {
    echo "Password is correct!";
} else {
    echo "Password is incorrect!";
}