Subversion (SVN) is a free, open source version control system that allows users to recover older versions of files and examine how files changed over time. It allows collaboration by enabling modification and management of shared data across networks. SVN creates a central repository that stores files and revision history. Developers can checkout a local working copy, make changes, and commit updates back to the repository for others to access. Key features include atomic commits, full version history for renamed/copied files, and language bindings for common programming languages.