Simply put, OneNote is a note taking program that is available for many platforms like Windows, MacOS, iOS and Android. It lets you freely store various content like text notes, handwriting, images or attached files to pages of infinitive size. It has many clever features, e.g. a built-in OCR mechanism to recognize text inside of images and make it searchable. To organize your content, it mimics classical notebooks (as many as you like) with colored separators (sections), pages and even “sub-pages”.
Although at some point Microsoft decided to declare OneNote part of MS Office, it’s in fact a separate application. Only one version (OneNote for Windows, desktop version) is loosely connected to other MS Office modules like Outlook.