Experiment No. 2 aims to understand version control systems and source code management by installing Git and creating a GitHub account. It outlines the steps to install Git from its official website and download the appropriate installer. It also explains how to create a GitHub account by visiting the website, signing up, choosing a plan, and completing the account setup process. Once installed and set up, Git can be used for version control and GitHub as a remote repository for projects to track changes, collaborate, and manage source code effectively.