Characteristics
The Moon is 384,403 kilometers (238,857 miles) distant from the Earth. Its diameter is 3,476 kilometers (2,160 miles). Its diameter is about half that of Mars, but larger than that of the planet Pluto. The speed necessary to escape the gravitational grip of the moon is a little over a fourth that needed from the earth. The mean temperature is -15 C compared to 20 C for earth. The moon has neither a magnetic field nor an atmosphere. Unlike the earth, the Moon's interior is no longer active.
The Moon's crust is thinner and the center of mass is offset from its geometric center on the near side toward the Earth. Both the rotation of the Moon and its revolution around Earth takes 27.32 earth days. This synchronous rotation is caused by the unsymmetrical distribution of mass in the Moon, which has allowed Earth's gravity to keep one face of the moon permanently turned toward Earth.
Given an orbital rotation equal to its period in orbit around the earth, most locations on the moon have a day of 14.75 earth days followed by a night of the same length. This total day/night cycle of 29.5 earth days is slightly greater than the Moon's orbital period of 27.32 earth days since the Earth moves a significant distance in its orbit around the Sun in that time.
Current theory indicates the Moon was formed when a Mars-sized body hit the Earth after the Earth's iron core had formed. Rocky, iron-poor material was ejected into orbit and then coalesced to form the moon. The Moon has a small core, supporting the Mars sized impact theory.
Farside
Locked in synchronous rotation, the Moon always presents its well-known near side to Earth. But from lunar orbit, Apollo astronauts also grew to know the Moon's far side. This picture from Apollo 16's mapping camera shows the eastern edge of the familiar near side (left) and the strange and heavily cratered far side of the Moon. Surprisingly, the rough and battered surface of the far side looks very different from the near side which is covered with great swaths of smooth dark lunar maria. The likely explanation is that the far side crust is thicker, making it harder for molten material from the interior to flow to the surface and form the smooth maria.
Water
Data from NASA's Clementine and Lunar Prospector space craft have made the Moon more attractive than in the Apollo days. There have been strong hints that water might exist in the permanent shadow of deep polar craters.
As a resource, lunar water could cut the cost of living dramatically for lunar explorers, since otherwise supplies would have to come all the way from Earth - at a price of anything up to 20,000 Euros per liter. It would also make a lunar 'fuel factory' a real possibility. There is plenty of oxygen bound up in the Moon's rocks, but little or no hydrogen. Even a modest water supply could guarantee an in situ source of cheap rocket propellant. With the success of the LCROSS mission, it appears water in sufficient quantity has been confirmed.