React is a JavaScript library for building user interfaces. It introduces components as the building blocks of interfaces and uses a virtual DOM for improved efficiency. Components come in two types - class components and function components. Class components require the use of the render() method and extend React.Component, while function components are now preferred and can use hooks to manage state and lifecycles. Props are used to pass data to components, events allow user interactions to trigger behavior, and forms are built similarly to HTML but their data is handled by the components' state.