A singularity refers to a point in mathematics where a function behaves erratically, often returning infinity, such as in the case of f(x) = 1/x at x=0. In the context of black holes, singularities occur at the center where general relativity's equations break down, indicating an incomplete physical theory. The event horizon surrounding a black hole is crucial, as it is observable and provides insights into the black hole's properties, while the singularity itself remains enigmatic. Additionally, singularities can also appear in models of an expanding universe, particularly when the scale factor approaches zero, but these points lack physical significance. Theoretical constructs like naked singularities, which lack event horizons, could enhance our understanding of singularities, though their existence is considered unlikely.