Water exists in three states - liquid, solid (ice), and gas (steam). It is vital for life on Earth, covering 71% of the planet's surface, though only 2.5% is freshwater. The presentation by Nejc Grbec and Gašper Jugovac from Slovenia discusses the water cycle and different types of water found on Earth, including saltwater in oceans and seas, freshwater in lakes and rivers, steam used for power and sterilization, and ice used for sports and food preservation.