Python has a built-in mechanism for handling errors and exceptions that may occur during program execution. When an error occurs, Python will raise an exception that can be caught and handled by the programmer using a try-except block. The try block contains the code that may raise an exception, while the except block contains the code that will handle the exception if it is raised. The except block can be used to display an error message, log the error, or take other appropriate actions. Python also provides a range of built-in exception classes that can be used to handle specific types of errors. Additionally, programmers can define their own custom exception classes to handle application-specific errors. Proper error handling can help improve the reliability and robustness of Python programs.