From The Lord of the Rings wiki
Rings of Power
The Rings of Power are twenty magical artefacts forged by the Elven-smiths of Eregion under the deception of Sauron to control the leaders of Middle-earth.
History
The Rings of Power were created in the Second Age by the Gwaith-i-Mírdain, led by Celebrimbor, who were manipulated by Sauron in the guise of Annatar. While the Elven-smiths crafted the Three Rings for the Elves in secret, Sauron forged the One Ring in the fires of Mount Doom to dominate the others and enslave their wearers. This act of betrayal initiated the long conflict that eventually drew in figures like Gandalf the Grey and the heroes of the later ages.
Distribution
The rings were distributed among the free peoples of Middle-earth to exert influence over their leaders. Sauron gave seven rings to the Dwarf-lords and nine to mortal Men, the latter of whom eventually fell to darkness to become the Nazgûl. The Three Rings remained hidden from Sauron, eventually coming into the possession of the Elves, including Galadriel and Elrond, who used them to preserve their realms until the destruction of the One Ring by Frodo Baggins and Samwise Gamgee.
