The utility grid integration of distributed generation units is seen as one of the most accomplished through the use of microgrid. Control methods and stability analyses in the microgrid are continuously being investigated in the field of hybrid microgrid. The most reviewed control method is hierarchical control, consisting of primary, secondary, and tertiary layers. This paper reviews multiple schemes of primary control for current or voltage regulation, secondary control for voltage or current error correction, power-sharing in microgrid, and tertiary control for power flow and energy management in a hybrid microgrid system. Additionally, this study examines the benefits and drawbacks of several control architectures that function as distributed, centralized, and decentralized controls. The principle of operation and effectiveness of each microgrid architecture control method have been discussed. Specific control factors are investigated in this paper, including mode transition and coordinated control between numerous interlinking converter and energy storage systems. System stability is the main concern of microgrid for system engineer thorough knowledge of control strategies is the upmost requirement. Thus, this paper highlights control strategies, rotor angle, voltage and frequency instability in power systems, and methods for improving stability in microgrid are also reviewed.