The Karl Fischer titration is an analytical chemistry method used to determine trace amounts of water in a sample, developed by German chemist Karl Fischer in 1935. It involves a reaction between iodine and water, with various reagents used over time to enhance safety and reaction speed, including different organic bases like imidazole and alcohols like ethanol. The titration can be performed volumetrically or coulometrically, with specific methods suited for different water content levels in samples.