The `java.util.Date` class in Java represents a specific instant in time, with millisecond precision. It is part of the Java standard library and provides methods to manipulate and format dates and times. However, it is important to note that `Date` is considered somewhat outdated and has been largely replaced by the more modern `java.time` package introduced in Java 8. Despite its limitations, `java.util.Date` can still be useful for basic date operations. It allows developers to create date objects, compare them, and retrieve various components like year, month, and day. For more complex date handling, developers are encouraged to use classes from the `java.time` package, such as `LocalDate` and `LocalDateTime`.