Microservices are an architectural style that structures an application as a collection of small, independent services that communicate over well-defined interfaces. This style draws from service-oriented architecture (SOA) principles but with lessons learned around using REST instead of SOAP, keeping services small and independent, and embracing distributed and decentralized control. While microservices provide benefits like independence and agility, they also introduce complexity from having many distributed components and integration points that require strong testing and operational practices.