Thermocouples are the most common temperature sensing device. They work by generating a voltage (EMF) based on the Seebeck effect from the junction of two dissimilar metals. Thermocouples are inexpensive, can withstand tough conditions, and provide point temperature measurements over a wide range from -250°C to +2500°C. They have limitations such as non-linearity and needing cold junction compensation, but remain popular for industrial and scientific temperature measurement applications.