What is the purpose of using a hash for password storage in a database?

When storing passwords in a database, it is important to use a hash function to securely store them. Hashing the passwords adds an extra layer of security by converting the plain text password into a unique string of characters that cannot be reversed to obtain the original password. This helps protect user passwords in the event of a data breach, as the hashed passwords are not easily decrypted.

```php
$password = "mypassword123";
$hashed_password = password_hash($password, PASSWORD_DEFAULT);
```
In this code snippet, the `password_hash()` function is used to securely hash the password before storing it in the database.