Runtime errors in Python occur during program execution, disrupting the flow when issues are not detected during parsing. Common causes include division by zero, using undefined variables or function names, performing operations on incompatible types, accessing non-existent list elements, dictionary keys, or object attributes, and attempting to open non-existent files. Examples of such errors include ZeroDivisionError, NameError, TypeError, IndexError, and FileNotFoundError. To resolve these issues, programmers should carefully examine error messages, ensure proper definition and usage of identifiers, verify data types, and access valid indices or keys in data structures. Tools like Rollbar can assist in tracking, analyzing, and managing these errors in real-time, providing automated error monitoring and triaging to simplify the debugging process.