What is Revision Control?
  
As used in software development, a revision control system is a tool for recording, indexing and manipulating the changes (revisions) made to the source code of a software system.
  For example, let's suppose that Alice and Bob will be working on the
  program sort -- perhaps they intend to fix some bugs and add a new
  feature for handling very long input lines. They agree that Alice
  will fix the bugs and Bob will add the feature.  
  
Cooperating Programmers Need to Combine their Changes
    One straw-man idea -- certainly a poor idea -- is that they make a
  single copy of sort, both fire up their editors, and they just make
  changes to that single copy.
  
This idea won't work well for many reasons but some of the most obvious are: what happens if they want to edit the same file, at the same time? What happens if Alice wants to compile and test a bug-fix, but Bob is in the middle of working on the new feature and his changes won't even compile?
Instead, each programmer should work on a separate copy but then they need some way to combine their efforts.
diff and patch Do the Job, but Crudely
  
    A second idea -- workable, but with problems of its own -- is that
  Alice and Bob will use the programs diff and patch to combine their
  work. For example, having fixed a bug, Alice will use diff to extract
  a description of the changes she made. She can give the output from
  diff to Bob who can then use patch to add those changes to his copy of
  the tree.
  
    Cooperating on a program by exchanging diff output and using patch can
  get the job done. Many (especially small) projects have worked this
  way. Even today, many projects that internally use revision control
  still use diff and patch when cooperating with "external
  contributors".
  
    Still, this approach has its limitations and drawbacks. An example
  of a limitation is the problem of renaming files. Suppose that
  Alice, while fixing a bug, had decided to reorganize the source a
  little bit -- to make it easier to maintain. Perhaps she has created
  some new subdirectories and moved files around among them. diff
  and patch will not cope with this situation gracefully. Alice can
  not easily (or necessarily at all) generate diff output that Bob
  will find useful. An unfortunate consequence is that Alice is
  therefore likely to not reorganize the source in the first place --
  whatever is gained in future ease of maintenance is hard to justify
  given the immediate difficulties it will create working with Bob.
  
    An example of a drawback of the diff/patch approach is the
  cherry-picking problem. Let's suppose that Alice has prepared 10
  bug fixes. Of these, 5 are known to be very good, but 5 haven't yet
  been tested and there is a suspician that they create new
  problems. Meanwhile, Bob would like to test his new feature code in
  the context of the known-good bug-fixes from Alice. He wants five of
  her changes, but not the other five.
  
    For Bob to solve this problem, he'll need to ask Alice to produce
  diff output for just the 5 known-good fixes and nothing else. To be
  able to do that easily, Alice will have to have done a lot of
  bookkeeping in her work -- to have kept around enough information to
  go back and extract just the known-good changes. And Bob will have
  to do a lot of bookkeeping too -- to keep track of which of Alice's
  changes he's taken and which not. With just two programmers, all of
  this bookkeeping is bad enough. With more programmers, and with more
  instances of this problem than just Bob's immediate need, the amount
  of bookkeeping quickly becomes impractical.
  
    As a result of drawbacks like that, projects that use only the
  diff/patch approach tend to be either very small, or very out of
  control. When out of control, they have difficulty quickly and
  reliably producing versions for release, isolating regressions, and
  so forth.
  
    So, Alice and Bob need something similar to the diff/patch approach
  -- but that doesn't require quite so much bookkeeping and that doesn't
  discourage making improvements such as reorganizing source files.  
  
The Solution: Modern Revision Control
    Modern revision control systems could be fairly described as
  improving and automating the diff/patch approach to programmer
  cooperation. Roughly speaking, modern revision control systems:
  
    1. Record and Catalog diff-like Changes: Whenever Alice or Bob does
     a "unit of work" -- such as make incremental progress fixing a
     bug -- they can ask the revision control system to commit that
     work. The commit process involves creating a diff-like
     description of the new changes, attaching them to a
     programmer-supplied description of the nature and purpose of the
     changes, assigning a standard-form name to the changes (similar
     to the call number on a library book), and archiving the changes
     where they can be retrieved later. Query tools allow programmers
     or managers to view the changes that have been recorded and the
     descriptions provided of them.
  
    2. Play-back and Combine Changes in Flexible Ways: Given an
     organized record of changes, problems such as Bob's cherry-picking
     need become easier to solve. Modern revision control tools give users
     flexible mechanisms that can be used for tasks such as "Create a tree
     that combines Bob's latest feature work with Alice's bug-fixes 1, 3,
     5, 6, and 8." Recording Alice's and Bob's changes separately in the
     first place is called branching and combining them is called
     merging. It's the same problem that can be solved using just diff and
     patch -- but modern revision control systems contain features that
     automate this rather complex and error-prone process.  
  
Postscript: "Hey, that's not CVS!"
    To people accustomed with older revision control systems, especially
  something like CVS, this definition of modern revision control may
  seem unfamiliar and a bit odd. Many people think of revision control
  as a tool that "gives access to historic version" and as a fancy
  kind of database where programmers checkin changes that are
  combined with the changes of others. Indeed, most older systems (and
  some contemporary ones) make it very difficult, at best, catalog
  individual changes (such as one of Alice's bug-fixes) or to combine
  changes in flexible ways (such as to solve Bob's cherry-picking
  problem).
  
Modern systems have the basic capabilities of older systems like CVS, but much more beyond those. Whereas CVS makes branching and merging difficult, modern systems make it a natural way to work. Whereas older systems do not help much with cataloging logical changes that may effect multiple files, modern systems use that capability as a foundation. In essense, the familliar capabilities of older systems ("checkin" and "access to historic versions") are just special cases of the basic functionality of modern systems ("recording and cataloging changes" and "playing-back and combining changes in flexible ways").