Philips head are specifically designed so you can't over torque them, that's why. The screwdriver slipping out is the design working properly.
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On this one point Spideyo07 is correct, but the point ignored is also the costs of manufacture.
Its always far cheaper to use a soft screw head material, easier machining and and longer tool life of the special milling or broaching tool used to cut the slot(s). And then if we try to cut something like an allen wrench receiver in soft steel we then harden, we can get to a sad state of up the creek without a paddle, if the screw head then cracks in use. Been there done that in my time as a toolmaker, and take my word for it really sucks.
In short, woe onto them who exceed design torque limitations. Which also ignores the fact that designers worship cheap and not sound engineering. And that other point, the screw may go home to bottom easily, but add a little rust and corrosion, and getting it out often greatly exceeds design limits.