The record for the most home runs in MLB history is held by Babe Ruth and later surpassed by Barry Bonds, who finished his career with 762 home runs. Bonds set the single-season record in 2001 with 73 home runs. His achievements have sparked debates about performance-enhancing drugs, as he faced scrutiny during his record-setting years. Both players are celebrated for their incredible talents, leaving a lasting impact on the sport of baseball.