Daniel Bernoulli discovered Bernoulli's principle in the 18th century while studying water flow through containers. Bernoulli's principle states that as the velocity of a fluid increases, the pressure within the fluid decreases. Some applications of Bernoulli's principle include venturi tubes, perfume sprayers, pitot tubes, the curved path of spinning balls, and the lift force created by airplane wings. The presentation provided examples of how Bernoulli's principle explains these phenomena in fluids and discussed its importance.