Python is a high-level, general-purpose programming language that emphasizes code readability with its clear and concise syntax. Created by Guido van Rossum and first released in 1991, Python has become one of the most popular programming languages today due to its simplicity as well as versatility. 

Some key features of Python that make it a popular choice for software development include:

- Interpreted Language: Python code is executed line-by-line at runtime by an interpreter rather than being compiled into machine code like other languages such as C/C++. This allows for rapid prototyping and development.

- Dynamic Typing: Variables in Python do not require explicit declaration of their data type. The type is inferred automatically at runtime based on the value assigned to the variable. This allows for flexibility and ease of use. 

- Automatic Memory Management: Python uses garbage collection to automatically allocate and release memory as needed. Programmers don't have to manually allocate and deallocate memory as in languages like C/C++. This prevents memory leaks and other memory management issues.

- Extensive Standard Library: Python comes bundled with a large standard library that provides commonly used functionality for things like string processing, web access, operating system interfaces, and more. This eliminates the need to write commonly needed functions from scratch.

- Easy to Read and Learn: With its use of significant whitespace for indentation rather than braces or keywords, along with its clear, descriptive variable names, Python code is easy to read even for beginners. This makes Python very intuitive to pick up.

- Cross-platform Compatibility: Python code can run unchanged on various operating systems like Windows, Linux/Unix, macOS, etc. This portability makes Python a great choice for cross-platform development. 

- Open Source and Free: Python is open source software, so it is free to use and distribute. The supporting ecosystem of Python packages and tools is also open and free to access. This promotes sharing and collaboration.

Some key technical details and features of the Python programming language include:

- Object-oriented programming: Python supports object-oriented programming with classes, inheritance, encapsulation, and polymorphism. Everything in Python is an object with properties and methods.

- Functional programming: Python supports important functional programming concepts like first-class functions, higher order functions, anonymous functions (lambda), map/reduce, list comprehensions etc.

- Strong dynamic typing: As mentioned earlier, Python uses dynamic typing based on the duck typing philosophy - "If it walks like a duck, and quacks like a duck, it's a duck". Type checking happens at runtime.

- Automatic memory management: The Python memory manager tracks references to objects and frees up memory automatically when objects are no longer referenced through garbage collection.

- Extensive libraries and frameworks: Python has a vast collection of built-in and third-party libraries/packages like NumPy, Pandas, Matplotlib, Django, Flask, TensorFlow, OpenCV etc.

- Interpreted execution: Python code gets converted to bytecode that is then executed on a Python virtual machine rather than compiled to native machine code. This allows portability across platforms. 

- Support for concurrency and parallelism: Python provides constructs like threads, multiprocessing etc. to support concurrent and parallel execution of code. Recently async/await was added to enable asynchronous programming.

- Interactive shell: The Python interactive shell allows testing out code snippets immediately without creating scripts. IPython provides an enhanced shell with auto-completion, color coding, access to variables etc.

- Integration with other languages: Python integrates with languages like C/C++, Java, .NET etc. Extensions and wrappers allow calling Python from other languages.

- Wide range of applications: Due to its richness of features and ease of development, Python serves a wide range of application domains - web development, automation/scripting, data analysis, machine learning, scientific computing and more. 

- Strong developer community: Active mailing lists, documentation, blogs and help forums provide great support for learning and troubleshooting Python. Popular sites like StackOverflow have rich info on Python.

- Commercial support: Companies like Microsoft, Google, Facebook etc. actively use Python in their products and services. Many provide commercial support, documentation and developer tools for Python.

Overall, Python strikes the right balance between code clarity, ecosystem richness, ease of development, performance, scalability and community support. Whether you are building web applications, doing data analysis, experimenting with machine learning or just automating simple tasks, Python is a great versatile language to use.