I do also wonder the same about other components, why 1/4 w instead of 1w or why 10V caps instead of 60V?
1/4w resistors will probably be cheaper, and use less surface on a circuit board. Also, there's surface mount 0805 resistors which are rated for 0.1w and can be more convenient to use (for example value printed on them, big enough to solder by hand on pads, just the right size to fit between two through holes 0.1" apart, so great to use on prototyping boards)

^ The above are 1206, pins are 0.1" apart... 0805 are not much smaller so you can see how they'd fit right between two holes.
As for capacitors, sometimes you need specific characteristics. For example you may want to use a cheap *1117 linear regulator to get 3.3v out of 5v, and these particular linear regulators need an output capacitor on the output with ESR between 0.1 ohm and 1 ohm. In this case, a 47uF 10v-16v electrolytic capacitor would have just the right ESR while a 47uF 50v electrolytic may have less than 0.1 ohm ESR (depends on series)
Sometimes you want higher voltage, for example if you absolutely have to use tantalum capacitors, it's often recommended to use 1.5-2x the voltage rating, as they tend to burn or explode on overvoltage.
With ceramic capacitors there's the issue of voltage bias, and you may have use higher voltage rating capacitors just to guarantee some minimum capacitance ... see :
https://pdfserv.maximintegrated.com/en/an/TUT5527.pdfSometimes you would pick a higher voltage rating than you need just because the capacitor would be a bigger volume and the cost savings are minimal or non-existent, and there's benefits to having a bigger volume capacitor.
For example, a lot of computer switching power supplies will use 10v or 16v rated electrolytic capacitor on the 5v stand-by circuit, even though a 6.3v rated electrolytic capacitor could be used - as this 5v stand-by portion is running 24/7, even when the computer is shut down, even when the power supply has the fan turned off, it makes sense to have a bigger capacitor that can handle better the heat produced by this 5v stand-by circuit, and have a higher lifetime rating.