It is a region of space where the matter is extremely dense (e.g. when all the mass of a star collapses into a very small volume). This distorts space-time to such an extent that light cannot escape from it, so it appears black.
Do you mean 'black hole' as in out there in space? Imagine the entire mass of the Earth contained within the size of one orange. Gravity would be so strong on the surface of this earth/orange that not even light could escape its gravitational field. This kind of black hole has a tendency to reveal more about what we don�t know about everything than what we do. So feel free to speculate so long as you don�t claim any first hand knowledge of what your taking about just as I don�t.
And speculation by scientists seems to suggest that there are a lot of them... to the point that a belief is emerging that each galaxy has one at the center. Equations suggest that they are in various sizes, as well, from very small to unimagineably large....