Microbial fermentation involves microorganisms like yeast and bacteria breaking down substances and converting them into simpler products. Fermentation is used to produce foods and beverages like beer, wine, bread, and yogurt. The document discusses fermentation processes like the types of fermenters used, fermentation media composition, inoculation, and techniques. Some important fermentation products mentioned are ethanol, lactic acid, enzymes, and cheeses. Challenges in microbial fermentation can include bacterial, viral, and fungal contamination that reduce yields and productivity.