wander about, walk along side of
徬 centers on movement that stays close to something: wandering about in a loose area or walking alongside a path or person.
徬 combines the movement radical 彳 with 旁, which likely contributes the sound and the idea of being beside or along something. The exact historical development is uncertain.
The left side 彳 suggests movement, and the right side 旁 looks like a person standing beside something. Picture someone walking along a path, sometimes wandering off but always staying close to the side.
For ホウ, imagine wandering along a hall (ホウ) that stretches beside you: hall -> ホウ, and you walk alongside its length.