There are two main blood group systems - ABO and Rh. The ABO system categorizes blood as A, B, AB, or O based on antigens on red blood cells. The Rh system depends on the presence of the D antigen, with Rh-positive having the D antigen and Rh-negative lacking it. Blood type is very important for compatibility in transfusions, with O-negative blood being the universal donor and AB-positive the universal recipient.