Java's garbage collection is a vital feature that helps manage application memory, but it doesn't completely safeguard against memory leaks, which can lead to the dreaded "java.lang.OutOfMemoryError." While increasing memory allocation might temporarily alleviate memory issues, it's not a permanent solution for leaks. Developers should proactively check for leaks before deploying applications, using tools like JVisualVM and jStat, which are included in the JDK. Memory settings significantly impact performance, with small heap sizes resulting in frequent garbage collection and high CPU usage, while large heap sizes lead to infrequent but lengthy garbage collections. Memory leaks exacerbate these problems by causing frequent and prolonged garbage collections, eventually crashing the JVM. Java's garbage collection has evolved, with the introduction of G1GC in Java 7 and removal of PermGen space in Java 8, each having implications on memory management. Dynatrace offers enhanced insights by correlating JVM metrics with other system indicators, providing a broader understanding of potential issues beyond just garbage collection.