Git is a distributed version control system that allows developers to work on codebases simultaneously and merge changes easily. It uses a local repository that can be synced to remote repositories hosted on services like GitHub. Developers clone repositories, make changes on branches, commit locally, and push updates to the remote. Git addresses issues like file locking and enables features like easy merging and reverting changes. Stashing is used to temporarily store uncommitted changes when switching branches. GUI clients and documentation on sites like GitHub help users learn and use Git's powerful capabilities for collaboration.