Memory leaks occur when a program fails to free memory that is no longer needed, resulting in unused memory increasing over time. This can happen when programmers forget to delete dynamically allocated memory, delete only part of a series of allocations, or have errors in handling pointers. Tools like Visual Leak Detector can detect leaks by tracking memory allocations and deletions, but some leaks may be difficult to find without carefully reviewing code. It is best to organize code well and use techniques like reference counting or garbage collection to prevent leaks.