Why is it recommended to use bcrypt instead of MD5 for hashing passwords in PHP applications?

Using bcrypt is recommended over MD5 for hashing passwords in PHP applications because bcrypt is a more secure hashing algorithm that is specifically designed for password hashing and is resistant to brute force attacks. MD5, on the other hand, is considered to be insecure due to its vulnerability to rainbow table attacks and collisions. By using bcrypt, you can significantly increase the security of your users' passwords.

// Hashing a password using bcrypt
$password = 'secret_password';
$hashedPassword = password_hash($password, PASSWORD_BCRYPT);

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