People all over the world recognize that composite volcanoes are very dangerous. Yet, many people live on their flanks. Why? What benefits could outweigh the risks?

The volcanic ground it the most fertile kind of soil.

This is why many people live around them, even whey those volcanos still activated, like in Hawaii.

Bul the volcanos lave came from the core of the earth, and with millions of ears the get inactivated, this means they don't explode.