HTML has evolved through several versions since its creation in 1991, with HTML 5 being the most recent. Prior versions included HTML 2.0, 3.0, and 4.0. XHTML was introduced as an XML-based reformulation of HTML 4.0 that imposed stricter syntax rules. However, XHTML faced challenges in browser support and never became the dominant standard, with HTML 5 now being the recommended modern specification.