Autoencoders are a type of feedforward neural network used for data compression by transforming input data into a latent-space representation and then reconstructing it. They consist of an encoder, a code, and a decoder, and can be categorized into types such as vanilla, multilayer, convolutional, and regularized autoencoders. While effective for dimensionality reduction, they must be carefully designed to avoid issues like overfitting and ensure they learn meaningful features.