A web browser is a software application used to retrieve and display documents on the internet, with its first version created by Tim Berners-Lee in 1990. Significant developments in browser history include the introduction of Mosaic in 1993, Internet Explorer in 1995, and Google Chrome in 2008. The document also outlines how browsers work by requesting resources from servers and displaying them to users, detailing the communication process and development of various browsers over time.