An operating system acts as an interface between software and hardware, managing computer resources and monitoring program execution. It provides a user-friendly interface to utilize hardware in a concealed manner. Common operating systems include Windows, Linux, and UNIX. An operating system performs tasks like memory management, processor allocation, device management, file management, and security. Operating systems can be classified as batch, multiprogramming, time-sharing, real-time, multitasking, and multiprocessing based on their design and capabilities.