A graph is a pair (V, E) where V is a set of vertices and E is a set of edges connecting the vertices. Graphs can be represented using an adjacency matrix, where a matrix element A[i,j] indicates if there is an edge from vertex i to j, or using adjacency lists, where each vertex stores a list of its neighboring vertices. Graphs find applications in modeling networks, databases, and more. Common graph operations include finding paths and connectivity between vertices.