LAMP is an acronym that stands for Linux, Apache, MySQL, and PHP. It is a popular software stack used for developing and deploying web applications. Each component plays a specific role: Linux serves as the operating system, Apache acts as the web server, MySQL is the database management system, and PHP is the programming language used for server-side scripting. This combination of technologies is favored for its open-source nature, which means that they are free to use and modify. LAMP is known for its flexibility, scalability, and strong community support, making it a go-to choice for many developers building dynamic websites and applications.