1) Quantum computing uses quantum mechanics and quantum states that can represent multiple values simultaneously, unlike classical computing which uses discrete binary states. 2) Some important concepts in quantum computing include quantum gates which perform operations on quantum bits (qubits), entanglement where quantum states of particles are linked, and the no-cloning theorem which prevents copying of unknown quantum states. 3) Quantum computing has potential applications in factoring integers, search algorithms, random number generation, and quantum key distribution, but challenges remain in building large-scale quantum computers and overcoming issues like short quantum coherence times.