Wikipedia offers a good general definition of CMS:

A content management system (CMS) is a computer software system for organizing and facilitating collaborative creation of documents and other content. A content management system is frequently a web application used for managing websites and web content. (accessed 16 April 2006)

While many proprietary and open source CMS's are available, open source applications can be downloaded for free, modified extensively at the code level by those with the technical savvy, and typically run on open source operating systems. This makes them a good, often lower cost solution, for educators who