While only a minimal fraction of global water resources is accessible for drinking water production, their uneven distribution combined with the climate crisis impacts leads to challenges in water availability. Leakage in water distribution networks compounds these issues, resulting in significant economic losses and environmental risks. A coherent review of (a) the most widely applied water loss estimation techniques, (b) factors influencing them, and (c) strategies for their resilient reduction provides a comprehensive understanding of the current state of knowledge and practices in leakage management. This work aims towards covering the most important leakage estimation methodologies, while also unveiling the factors that critically affect them, both internally and externally. Finally, a thorough discussion is provided regarding the current state-of-the-art technics for leakage reduction at the municipal-wide level.