The hip joint is a ball and socket synovial joint formed between the femoral head and the acetabulum. It allows movements like flexion, extension, abduction, adduction, and rotation. The joint is stabilized by ligaments like the iliofemoral, pubofemoral, and ischiofemoral ligaments. It receives its blood supply from the medial and lateral femoral circumflex arteries and has nerves like the femoral and sciatic nerves passing near it.