How does IFERROR differ from the IF function when handling errors?

The IF function requires you to explicitly define the condition to check for. With IFERROR, you don't need to specify *what* error to look for; it automatically catches *any* error. IF is better for checking specific conditions (e.g., `IF(B1>0, A1/B1, 0)`), while IFERROR is specifically for error handling. You can, however, combine them for more complex logic.