The abbreviation 'HTML' stands for HyperText Markup Language. It is the standard language used for creating and designing documents on the World Wide Web. HTML consists of a series of elements or tags that define the structure and layout of web pages, allowing browser interpretation to render text, images, links, and multimedia content. Understanding HTML is essential for web developers and designers, as it forms the backbone of web content, enabling the linking and display of information effectively across the internet.