From Scientific American:
Modern science has introduced the world to plenty of strange ideas, but surely one of the strangest is the fate of a massive star that has reached the end of its life. Having exhausted the fuel that sustained it for millions of years, the star is no longer able to hold itself up under its own weight, and it starts collapsing catastrophically. Modest stars like the sun also collapse, but they stabilize again at a smaller size. Whereas if a star is massive enough, its gravity overwhelms all the forces that might halt the collapse. From a size of millions of kilometers across, the star crumples to a pinprick smaller than the dot on an “i.”
Most physicists and astronomers think the result is a black hole, a body with such intense gravity that nothing can escape from its immediate vicinity. A black hole has two parts. At its core is a singularity, the infinitesimal point into which all the matter of the star gets crushed. Surrounding the singularity is the region of space from which escape is impossible, the perimeter of which is called the event horizon. Once something enters the event horizon, it loses all hope of exiting. Whatever light the falling body gives off is trapped, too, so an outside observer never sees it again. It ultimately crashes into the singularity.
But is this picture really true?
More here.