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Black holes provide a window into the microscopic structure of spacetime in quantum gravity. Recently the quantum information contained in Hawking radiation has been calculated, verifying a key aspect of the consistency of black hole evaporation with quantum mechanical unitarity. This calculation relied crucially on recent progress in understanding the emergence of bulk spacetime from a boundary holographic description. Spacetime wormholes have played an important role in understanding the underpinnings of this result, and the precision study of such wormholes, in this and other contexts, has been enabled by the development of low-dimensional models of holography. In this white paper we review these developments and describe some of the deep open questions in this subject. These include the nature of the black hole interior, potential applications to quantum cosmology, the gravitational explanation of the fine structure of black holes, and the development of further connections to quantum information and laboratory quantum simulation.