Servlets are Java classes that extend the functionality of a web server by dynamically generating web pages. Servlets use the Java programming language and are managed by a servlet container that handles loading, unloading, and directing requests. Servlets provide advantages over older technologies like CGI scripts such as better performance, portability, security, and access to full Java features. The basic servlet lifecycle involves initialization, handling requests, and destruction. Servlets can be generic or HTTP-specific, with HTTP servlets providing specialized methods for different HTTP request types. Sessions allow servlets to maintain state across multiple requests.