Algorithms are step-by-step procedures or formulas for solving problems. They are fundamental to computer science and are used to perform calculations, data processing, and automated reasoning tasks. An algorithm takes an input, processes it through a series of defined steps, and produces an output. Different types of algorithms exist, such as Sorting Algorithms, Search Algorithms, and Graph Algorithms. Each type serves a specific purpose and is designed to solve particular problems efficiently. Understanding algorithms is crucial for software development and optimizing performance in various applications.