Application security involves protecting all components of an application, including the user interface, database, web server, and application server. It addresses common vulnerabilities like injections, session hijacking, unauthorized access, and broken authentication. An application security engineer needs to secure files, directories, protocols, ports, accounts, patches, updates, and services to protect a modern web application against attacks like server-side request forgery, XML external entity injection, cross-site scripting, information disclosure, and server-side template injection.