Exceptions are as old as programming itself. Back in the days when programming was done in hardware, or via low-level programming languages, exceptions were used to alter the flow of the program, and to avoid hardware failures. Today, Wikipedia defines exceptions as:
the process of responding to the occurrence of exceptions – anomalous or exceptional conditions requiring special processing – during the execution of a program. In general, an exception breaks the normal flow of execution and executes a pre-registered exception handler…

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