Vector processing involves executing the same operation on multiple data elements simultaneously using a single instruction. Early implementations like the CDC Cyber 100 had limitations. The Cray-1 was the first successful vector processing supercomputer, using vector registers to perform calculations faster than requiring memory access. Seymour Cray led the development of vector processing machines that dominated the field for many years. While vector processing is no longer a focus, its principles are still used today in multimedia SIMD instructions.