Explain how Entity Framework handles database migrations and versioning.

Entity Framework Code First Migrations is a feature that automates the process of incrementally updating the database schema to match changes in the application's data model. It tracks changes to the entity classes and generates SQL scripts to apply those changes to the database. This approach allows developers to evolve the database schema over time without losing data or disrupting the application's functionality. Manually altering the database schema can be error-prone and time-consuming, while using stored procedures for migration limits flexibility and maintainability. Third-party migration tools may offer additional functionality but may require extra setup and integration.