Managing multiple Python versions and dependencies across different projects can be simplified by using virtual environments, which allow developers to isolate project-specific dependencies without affecting the system-wide Python installation. This approach prevents dependency conflicts, enables testing of new features, and ensures reproducibility, portability, and maintainability. Miniconda, a lightweight version of the Anaconda Python distribution, offers a robust package management system that supports both Python and non-Python packages, making it suitable for various development tasks. Unlike traditional virtual environment managers, Miniconda uses the conda package manager, which simplifies the creation, activation, and management of virtual environments. The tutorial demonstrates how to install Miniconda, create and activate a virtual environment, install necessary packages, and test a web application using Flask. It also highlights some limitations of Miniconda, particularly in handling system-level dependencies, and suggests using tools like Earthly for better dependency management.