Logarithms are mathematical functions that determine the exponent to which a base must be raised to yield a specific number, with key identities relating to the operations of product, quotient, power, and root. The change of base formula allows calculation of logarithms with respect to any base using established logarithmic values. Historically vital for computations, logarithms have applications in scales like decibel measurement and the study of fractals, illustrating their relevance both in mathematics and various scientific fields.