Stem cells are defined as cells that can renew themselves and differentiate into other cell types. They can be isolated from embryos, umbilical cord, and adult bone marrow. Stem cells have the potential to divide indefinitely and the ability to become specialized cells through developmental plasticity. Research on stem cells is showing promising results for treating diseases like heart disease and cancer. Stem cells can be totipotent, pluripotent, multipotent, or unipotent depending on their differentiation potential.