Phabricator is a suite of tools for code review and project management. It includes Differential for pull requests, Maniphest for issues tracking, and Arcanist as the command line interface. With Arcanist, developers can create features, diff code changes, and land changes after review. The review process is blocking in Phabricator and encourages active participation from reviewers and authors through comments, memes, and requested changes. Other tools like Herald and Audit allow tracking changes and reviewing commit histories.