ELI5 Sinkholes - how do they happen?

How do sinkholes happen? What exactly are they? What are Cenotes? Why do sinkholes have so many different names around the world? What is the deepest sinkhole in the world?

... we explain like I'm five

Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: jaded57, dixonmyaz, berkeleykev, back2beantown, francischarlesbacon and fish_823543

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