The motherboard is the main circuit board in computers that connects all internal components. It determines the capabilities of the system. Some key components include the CPU, RAM slots, BIOS, and expansion slots. Common motherboard types include ATX, Micro-ATX, Mini-ITX, and E-ATX. Modern ATX motherboards offer advantages like more power phases for stable power delivery and clearance for large CPU coolers. The motherboard is the central component in a computer system.