Git is a distributed version control system that was created by Linus Torvalds in 2005 to manage the Linux kernel source code. It allows developers to work simultaneously and maintain a complete history of their work. Git uses a distributed model where every developer has a full copy of the code repository, enabling them to work offline and collaborate asynchronously by integrating changes from any repository. Developers commit changes to their local repository and synchronize changes by pushing to or pulling from remote repositories.