Can I store my ID on my phone?

Excuse me, I'm curious about something regarding digital security and personal identification. Nowadays, with smartphones being so advanced and capable of storing all sorts of sensitive information, I was wondering if it's SAFE and advisable to store my personal ID, such as a driver's license or passport details, on my phone? Are there any security risks or privacy concerns I should be aware of? Also, are there any specific apps or methods you would recommend for securely storing such information on a mobile device? Thank you for your time and expertise.