Hardware wallets are specialized devices that securely store the private keys used to access and manage cryptocurrencies. Unlike software wallets that are connected to the internet and can be vulnerable to hacks or malware, hardware wallets are isolated from the internet, making them less susceptible to unauthorized access. They are often in the form of a USB drive or similar device and require physical connection to a computer or mobile device for transactions to be processed. Hardware wallets provide enhanced security features such as PIN code access, recovery seed phrases, and often support multiple cryptocurrencies.