What is AppleCare, how much does it cost and is it worth it?

AppleCare (and, by extension, AppleCare+) is a product you’ll hear about whenever you purchase any Apple product. Purchased a shiny new MacBook? AppleCare is available. Have you just bought an iPhone 14 Pro Max? You know they’re going to try to sell you AppleCare. You can’t walk into an Apple Store without someone mentioning Apple Care (and probably trying to convince you that you must purchase it with every Apple item you buy).