Git is a distributed version control system that allows tracking changes to files. It records changes as commits, allowing developers to restore previous versions of code. The basic Git workflow involves modifying files in the working tree, staging changes using "git add", and committing changes with "git commit". Common Git commands include "git init" to create a new repository, "git clone" to obtain an existing repository, "git add" to stage changes, and "git commit" to save changes to the project history.