The revolutionary breakthroughs in Machine Learning (ML) and Artificial Intelligence (AI) are extensively being harnessed across a diverse range of domains, e.g., forensic science, healthcare, virtual assistants, cybersecurity, and robotics. On the flip side, they can also be exploited for negative purposes, like producing authentic-looking fake news that propagates misinformation and diminishes public trust. Deepfakes pertain to audio or visual multimedia contents that have been artificially synthesized or digitally modified through the application of deep neural networks. Deepfakes can be employed for benign purposes (e.g., refinement of face pictures for optimal magazine cover quality) or malicious intentions (e.g., superimposing faces onto explicit image/video to harm individuals producing fake audio recordings of public figures making inflammatory statements to damage their reputation). With mobile devices and user-friendly audio and visual editing tools at hand, even non-experts can effortlessly craft intricate deepfakes and digitally altered audio and facial features. This presents challenges to contemporary computer forensic tools and human examiners, including common individuals and digital forensic investigators. There is a perpetual battle between attackers armed with deepfake generators and defenders utilizing deepfake detectors. This paper first comprehensively reviews existing image, video, and audio deepfake databases with the aim of propelling next-generation deepfake detectors for enhanced accuracy, generalization, robustness, and explainability. Then, the paper delves deeply into open challenges and potential avenues for research in the audio and video deepfake generation and mitigation field. The aspiration for this article is to complement prior studies and assist newcomers, researchers, engineers, and practitioners in gaining a deeper understanding and in the development of innovative deepfake technologies.