Honeypot is an exciting new technology with enormous potential for the security community.It is resource which is intended to be attacked and compromised to gain more information about the attacker and his attack techniques.

They are a highly flexible tool that comes in many shapes and sizes. This paper deals with understanding what a honeypot actually is ,and how it works.

There are different varieties of honeypots. Based on their category they have different applications. This paper gives an insight into the use of honeypots in productive as well as educative environments.

This paper also discusses the advantages and disadvantages of honeypots , and what the future hold in store for them.