The Titanic began its maiden voyage on April 10, 1912, and sank after striking an iceberg two days later, resulting in over 1,500 fatalities. Contributing factors to the disaster included captain E.J. Smith's ignored iceberg warnings, pressure from managing director Bruce Ismay to maintain speed, and design flaws in the ship's watertight compartments and rivets. The tragedy highlighted the need for adequate lifeboats and improved safety measures, leading to regulations ensuring that all ships have sufficient safety features to protect passengers.