A latch is a digital electronic circuit that has two stable states and can store a digital signal. These two states are known as set and reset state or high or low state, and as it has two stable states, it is also known as bistable multivibrators. Latches are used to store data using the feedback lane and can store only 1 bit of data at a time until the signal is changed. There are different types of latches, including SR Latch, D Latch, T Latch, and Gated D Latch. Latches are faster than other types of digital circuits such as flip-flops and are used in applications that require high-speed data storage and retrieval. They are versatile and can be used in a wide range of digital applications such as registers, counters, and memory. Latches are low power-consuming devices and require very little power to operate, making them ideal for battery-powered applications.