Large Language Models (LLMs), such as ChatGpt, Bard, Gemini, Llama, etc., are powerful tools that understand language deeply and can generate text with empathy. They understand the context and can solve problems constructively, which makes them beneficial in many areas like text generation, translation, analysis, customer support, etc. LLMs have recently caught the security community’s attention, as they can guide them in identifying security flaws and assisting in security tasks. This paper presents the evolution of LLMs and the task-solving capacity, concepts, features of LLMs, architectural foundation, training, applications, challenges, and Benchmarks. It explores the benefits, the risks involved, and the vulnerabilities. The research findings are categorized as the helpful and harmful uses of LLMs. This research work highlights how LLMs can strengthen and challenge users.