What is a software bitcoin wallet?

Could you elaborate on what a software Bitcoin wallet is and how it differs from other types of wallets? Specifically, I'm interested in understanding the key features and benefits of a software wallet, as well as any potential risks or considerations one should make before adopting one. Are there specific software wallets you would recommend for beginners? And how secure are they compared to hardware wallets or other alternatives? Thank you for your insight on this topic.