Lipids are a heterogeneous group of compounds that are chemically esters of fatty acids. They function as fuels for the body, provide insulation and padding for organs, and are involved in cell membrane structures. The main types of lipids include fatty acids, triglycerides, phospholipids, and steroids like cholesterol. Lipids play important roles in energy storage, as structural components of cell membranes, and in transporting fat-soluble vitamins. They undergo reactions like hydrolysis, hydrogenation, and oxidation. Diseases related to lipid metabolism include obesity, hyperlipidemia, and lipidosis.