The property of water that allows it to dissolve many substances is known as polarity. Water is a polar molecule, meaning it has a partial positive charge on one side and a partial negative charge on the other. This polarity enables water to interact with and surround various solutes, effectively breaking down ionic and polar compounds. As a result, water is often referred to as the universal solvent, facilitating crucial biochemical reactions and processes in living organisms. Its ability to dissolve substances plays a key role in biological systems and ecosystems.