Java was developed in 1991 by James Gosling at Sun Microsystems and released in 1995. It is an object-oriented language that is designed to be simple, secure, portable, and robust. Java code is compiled into bytecode that can run on any Java Virtual Machine, making Java programs platform independent. The basic structure of a Java program includes import statements, class definitions, and a main method where program execution begins. A simple "Hello World" Java program is presented as an example.