This review explores the complex relationship between Fear of Falling (FoF) and Fear of Heights (FoH), and their impact on human postural control. FoF encompasses a spectrum of psychological and physiological responses that dynamically influence postural control, while FoH involves perceptual distortions and heightened physiological arousal in response to elevated environments. Through a comprehensive literature review, we examine the research methods and findings of studies on FoF and FoH. We further propose that Optimal Feedback Control (OFC) theory is a suitable framework to understand the computational aspects of how these fears modify postural control. We aim to provide a nuanced understanding of FoF and FoH, not only as psychological phenomena but as complex, dynamic interactions of cognitive, physiological, and motor processes influencing an individual's interaction with their environment.