Test coverage refers to measuring the degree to which the code or requirements are executed by a test suite. It helps identify areas that are not tested and improve test quality. Measuring test coverage establishes traceability between requirements and test cases, enables change impact analysis, and prevents defect leakage. Test coverage can be achieved through techniques like bi-directional traceability, static reviews, converting defects to test cases, and using code/unit test coverage tools. Maintaining adequate test coverage provides benefits like early defect prevention and better return on investment, while best practices include periodic maintenance, quality gates, using test management tools, and maintaining coverage metrics.