The acronym 'HTML' stands for HyperText Markup Language, the standard language used to create and design documents on the web. HTML provides the structure for web pages, using tags to define elements like headings, paragraphs, images, and links. It offers a way to format content for presentation in web browsers. HTML is foundational for web development, enabling developers to incorporate text, multimedia, and interactive features. Understanding HTML is crucial for anyone involved in creating or managing online content, as it affects both user experience and search engine optimization (SEO).