Hydrogen energy represents a promising, clean, and sustainable alternative to fossil fuels. This review explores its historical development, examines key production technologies such as electrolysis and steam methane reforming (SMR), and discusses various storage and distribution methods. It examines hydrogen's applications in fuel cells, industry, transportation, and power generation, highlighting environmental and economic impacts. Despite advancements, challenges in production efficiency, storage, and policy support remain. Key conclusions include the efficiency and cost-effectiveness of SMR (65-75%, $0.66-0.84/kg H2) and the cleaner potential of electrolysis using solar and wind energy (60-70%, $5.81-22.31/kg H2). The review underscores the need for advanced storage solutions, robust infrastructure, and supportive policies to enable widespread adoption and global sustainability.