OOPs provides several benefits like reduced complexity, reusability of code, and less redundancy. It achieves this through concepts like encapsulation, inheritance and polymorphism. Some disadvantages are a steeper learning curve, larger program size and slower execution compared to procedural programming. OOPs can be applied in areas like databases, simulation, web applications and user interfaces. C++ is an object-oriented language that builds upon C with additional features like classes, function overloading and exception handling. It requires a C++ compiler to translate the code to an executable file.