Exception Handling at CMC Limited discusses how exceptions occur during program execution and the importance of handling them properly. It describes common exceptions like invalid user input or unavailable files. Exception handling maintains normal application flow and improves the user experience. Try, catch, and finally blocks are used to handle exceptions - try contains code that might cause exceptions, catch handles specific exceptions, and finally contains cleanup code. The document provides examples of different ways to write these blocks and demonstrates handling an ArithmeticException.