Black holes are formed when massive stars collapse in on themselves after exhausting their nuclear fuel. The collapsed star becomes incredibly dense, with such strong gravity that not even light can escape. There are two main types - galactic black holes, which are relatively smaller and formed from collapsed stars, and supermassive black holes, which are millions to billions times the mass of our sun and reside at the center of most galaxies. The event horizon marks the point at which a black hole's gravity becomes so intense that nothing, not even light, can escape.