Multimodal generative models are rapidly evolving, leading to a surge in the generation of realistic video and audio that offers exciting possibilities but also serious risks. Deepfake videos, which can convincingly impersonate individuals, have particularly garnered attention due to their potential misuse in spreading misinformation and creating fraudulent content. This survey paper examines the dual landscape of deepfake video generation and detection, emphasizing the need for effective countermeasures against potential abuses. We provide a comprehensive overview of current deepfake generation techniques, including face swapping, reenactment, and audio-driven animation, which leverage cutting-edge technologies like GANs and diffusion models to produce highly realistic fake videos. Additionally, we analyze various detection approaches designed to differentiate authentic from altered videos, from detecting visual artifacts to deploying advanced algorithms that pinpoint inconsistencies across video and audio signals.The effectiveness of these detection methods heavily relies on the diversity and quality of datasets used for training and evaluation. We discuss the evolution of deepfake datasets, highlighting the importance of robust, diverse, and frequently updated collections to enhance the detection accuracy and generalizability. As deepfakes become increasingly indistinguishable from authentic content, developing advanced detection techniques that can keep pace with generation technologies is crucial. We advocate for a proactive approach in the "tug-of-war" between deepfake creators and detectors, emphasizing the need for continuous research collaboration, standardization of evaluation metrics, and the creation of comprehensive benchmarks.