Algebra is a broad part of mathematics that includes everything from solving simple equations to studying abstract concepts like groups, rings, and fields. It has its roots in early civilizations like Egypt and Babylonia but was further developed by Greek mathematicians and Indian mathematicians like Aryabhata and Brahmagupta. Algebra is important in everyday life for tasks like calculating distances, volumes, and interest rates, as well as for science, technology, engineering, and other fields that require mathematical modeling and problem-solving skills.