Python is a multi-purpose, object-oriented programming language focused on readability and productivity, developed by Guido van Rossum in the late 1980s. It allows for dynamic typing and includes features such as easy variable assignments, simplified syntax without the need for many punctuation marks, and flexible string handling. Python is widely used in various domains, including web applications, artificial intelligence, and data science, with notable versions like Python 2.7 and 3.0 released in the early 2000s.