The greatest common factor (GCF), also called the greatest common divisor, is the largest number that divides two or more numbers evenly. It is what you use to reduce fractions to lowest terms — 48/72 reduces via their GCF of 24 to 2/3 — and to split quantities into the largest possible equal groups with nothing left over, like dividing 36 apples and 54 oranges into identical gift bags (18 bags of 2 apples and 3 oranges). Any time you want the biggest equal split, you want the GCF.
Prime factorization finds it cleanly: break each number into primes and take the lowest power of each prime common to all of them. For 48 (2^4 x 3) and 72 (2^3 x 3^2), the shared primes give 2^3 x 3 = 8 x 3 = 24. The Euclidean algorithm is the faster method computers use: repeatedly replace the larger number with the remainder of dividing it by the smaller until the remainder is zero — the last non-zero remainder is the GCF. For 48 and 72: 72 mod 48 = 24, 48 mod 24 = 0, so the GCF is 24. It is also the mirror image of the LCM, linked by GCF(a,b) x LCM(a,b) = a x b — for 48 and 72, 24 x 144 = 3,456 = 48 x 72.