Konohagakure means "The Village Hidden in the Leaves." It is the village of many of the Naruto character's births, and a major area in the Naruto world reknowned for its military might.
The Leaf village is the most powerful and prosperous of the five great ninja villages and has had a long history of great leaders that they honor with a Mt. Rushmore-like cliff-side, with a carving of each of the Hokage's faces on it.
It was here that Naruto Uzumaki was born, also known as the Nine Tailed Fox's recipient, a "host" if you will. It is also the birthplace of many of the Naruto series' main characters, such as Sasuke Uchiha, Itachi Uchiha, Kakashi Hatake, and Sakura Haruno.
WARNING:
The following article may or may not contain spoilers, depending on whether or not you have read the Japanese Naruto, which, like most manga, is far ahead of where we are in America. This article is based off of strictly what is happening in the manga at this time and what has already happened, not the english anime, and therefore may contain spoilers for readers who have not kept up with the Japanese manga.
Konohagakure, also known as Konoha, The Village Hidden in the Leaves, and the Leaf Village, was formed by its First Leader, aka its Hokage , by himself. The First Hokage was renowned for his extreme ability to manipulate wood and other jutsu, was of course dubbed as the greatest ninja of Konoha.

So far, Konoha has had five leaders, also known as its Hokage. The word Hokage means "Fire Shadow", and is given to them as they are the biggest village in the fire nation, with the most power and influence. It should also be noted that the leaders of other villages are not called Hokage, but something else, like the Sand Villages Kazekage, given to it as it the largest village in the Land of Wind, of course meaning "Wind Shadow", the pattern is quite noticeable. The Five Hokage leaders have done as much as they could to help their village in times of need, and so far, their attempts have obviously worked. For more information on them, please visit the Hokage page. Here will simply give you a brief explanation of what they've done and the slightly complex history of the third and fourth.
These are not all of the major events in chronological order, they will be explained as they were in the manga. Meaning, though the Uchiha Massacre occurred before the Chuunin Exams, it will be explained afterwards as it was explained afterwards in the manga. This is, in some extent, chronological, but only to the manga timeline, not the story within itself.
Konoha is famous for having the strongest Shinobi Village military, and for being a major trade center in the land of fire. The main characters in Naruto are almost all denizens of Konoha, and many of the major events in the Narutoverse happen within the Leaf Village. Of the main story, the most important regarding Naruto would be the incident of the Nine Tailed Fox, in which Madara Uchiha, aka Tobi

Chuunin Exams
The first major even to happen within Konoha itself for the entire series was the Chuunin Exams, an event that had multiple villages send in their Genin for a test to see which were worthy of attaining the next rank in ninja hood. This arc introduced most of the main cast, actually, for all of Part I in the manga. It introduced characters like Gaara, Hinata, Shino, Kiba, Orochimaru, Kabuto, Kurenai, Jiraiya, Ino, Shikamaru, Lee, Guy, and of course a majority of the characters affiliated with those said. In the Chuunin Exams every major and basically secondary character showed up for part I, and basically they did what a majority of manga characters do, fight and look cool while doing it. At first, Naruto and his team might not have been able to even participate in the exams, as Sakura didn't think she could do it. Well, in the end, though she did decide to go for it anyways, it didn't quite matter as the team would only be trying to help each other out for one of the three tests, the rest of them they were on their own for the most part.