Visual Basic is a programming tool created by Microsoft that allows users to build graphical user interface (GUI) applications in an easy-to-use environment. It deals with the study of computer languages and how to represent algorithms, variables, loops, and other programming concepts through flowcharts and step-by-step instructions to solve problems. Flowcharts provide a graphical representation of the programming logic and algorithmic steps, while variables store memory containers, operators perform math and logic, and loops repeatedly execute code until a condition is met.