Stem cells are cells that can develop into different types of cells in the body. They have the potential to repair damaged tissues and cells. The history of stem cell research began in the 1970s with bone marrow transplants. Present research focuses on umbilical cord stem cells, induced pluripotent stem cells, and somatic cell nuclear transfer. Potential applications include regenerative medicine, drug development, and treatments for conditions like cancer, diabetes, and arthritis. Challenges include ethical issues surrounding embryo use and the need for more research to understand mechanisms fully.