Synchronization is an emergent and fundamental phenomenon in nature and engineered systems. Understanding the stability of a synchronized phenomenon is crucial for ensuring functionality in various complex systems. The stability of the synchronization phenomenon is extensively studied using the Master Stability Function (MSF). This powerful and elegant tool plays a pivotal role in determining the stability of synchronization states, providing deep insights into synchronization in coupled systems. Although MSF analysis has been used for 25 years to study the stability of synchronization states, a systematic investigation of MSF across various networked systems remains missing from the literature. In this article, we present a simplified and unified MSF analysis for diverse undirected and directed networked systems. We begin with the analytical MSF framework for pairwise-coupled identical systems with diffusive and natural coupling schemes and extend our analysis to directed networks and multilayer networks, considering both intra-layer and inter-layer interactions. Furthermore, we revisit the MSF framework to incorporate higher-order interactions alongside pairwise interactions. To enhance understanding, we also provide a numerical analysis of synchronization in coupled R\"ossler systems under pairwise diffusive coupling and propose algorithms for determining the MSF, identifying stability regimes, and classifying MSF functions. Overall, the primary goal of this review is to present a systematic study of MSF in coupled dynamical networks in a clear and structured manner, making this powerful tool more accessible. Furthermore, we highlight cases where the study of synchronization states using MSF remains underexplored. Additionally, we discuss recent research focusing on MSF analysis using time series data and machine learning approaches.
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