Java was created in 1990 by James Gosling at Sun Microsystems to control microprocessors embedded in consumer devices. It was designed to be platform independent, reliable, and compact. Over time, Java expanded to support web and internet applications. Major versions included Java 1.0 in 1995, Java 1.1 in 1997, Java 1.2 in 1999, and Java 1.3 in 2002, each adding new packages, classes, and functionality. Key features of Java include being platform independent, object-oriented, having automatic memory management via garbage collection, and prioritizing security.