Mutations are changes in genetic material that can be passed from parent cells to daughter cells. There are two main types of mutations:
1. Spontaneous mutations arise from errors in DNA replication and can include base pair substitutions like transitions/transversions and frameshift mutations from insertions/deletions of bases.
2. Induced mutations are caused by external mutagenic agents like chemicals or radiation that alter DNA structure.
Mutations can have varying effects depending on if they result in nonsense/missense amino acid changes or are silent/neutral. Frameshift mutations alter all codons after the mutation. Mutations are an important source of genetic variation and play a role in evolution.