Composer is a dependency manager for PHP projects that allows developers to declare and install dependencies and their versions. It guarantees consistency across team members and environments by locking dependency versions in a composer.lock file. To use Composer, a project's dependencies are defined in a composer.json file. Running "composer install" will install all dependencies into the vendor folder from the versions specified in composer.lock. Composer can be used with frameworks like Drupal and WordPress to manage their core files and dependencies.