DC microgrids have attracted significant attention over the last decade in both academia and industry. DC microgrids have demonstrated superiority over AC microgrids with respect to reliability, efficiency, control simplicity, integration of renewable energy sources, and connection of dc loads. Despite these numerous advantages, designing and implementing an appropriate protection system for dc microgrids remains a significant challenge. The challenge stems from the rapid rise of dc fault current which must be extinguished in the absence of naturally occurring zero crossings, potentially leading to sustained arcs. In this paper, the challenges of DC microgrid protection are investigated from various aspects including, dc fault current characteristics, ground systems, fault detection methods, protective devices, and fault location methods. In each part, a comprehensive review has been carried out. Finally, future trends in the protection of DC microgrids are briefly discussed.