Grover's Algorithm is a quantum algorithm that provides a way to search an unsorted database more efficiently than classical algorithms. It can find a specific item in a database of N items in roughly √N steps, compared to the N steps required by classical search methods. This makes it particularly useful for problems where the search space is large. The algorithm works by utilizing the principles of quantum superposition and interference. By applying a series of quantum operations, Grover's Algorithm amplifies the probability of the correct answer while diminishing the probabilities of incorrect ones, showcasing the power of quantum computing in solving complex problems.