The .NET framework allows developers to create applications for web, desktop, and mobile in various languages on Microsoft's platform. It utilizes a common language runtime (CLR) and class libraries to provide language interoperability. Key aspects include Windows Forms for desktop apps, ASP.NET for web apps, and ADO.NET for data access. The framework has evolved over time with new versions adding capabilities like WPF, WCF, LINQ, and parallel programming. It aims to simplify development while providing a robust and secure environment for building applications.