Hydrocephalus, characterized by excess cerebrospinal fluid in the brain, can lead to increased intracranial pressure and requires surgical intervention, often through shunt placement. It affects 1-3 per 1000 newborns worldwide, and symptoms include poor feeding, large head size, and bulging fontanelles. Diagnosis is achieved through imaging techniques like CT and MRI, and management includes both pharmacological and surgical options to alleviate symptoms and prevent brain damage.