Classes and objects allow bundling of related data and functions. An object is an instance of a class that contains the class's data members and can access its member functions. Classes improve on procedural programming by avoiding issues when data structures change. A class defines the data types and functions for a user-defined type using a class name, data members, and member functions. Objects are instances of classes that hold separate copies of class data. Access specifiers like public, private, and protected control access to class members.