The 80386 microprocessor was introduced by Intel in 1985. It had a 32-bit data bus and 32-bit address bus, allowing it to access up to 4GB of memory. It improved on the 80286 by including a memory management unit and paging capabilities. The 80386 operated in real, protected, and virtual modes and could address memory using various addressing modes including scaled indexed addressing. It had enhanced 32-bit registers and introduced debugging features like breakpoints using debug registers. Paging divided memory into fixed-size pages allowing more efficient memory management for multitasking systems.