The first version of Bembo was cut by Francesco Griffo around 1496 for use by Venetian printer Aldus Manutius. The typeface got its name from being used in a book authored by Cardinal Bembo. The iteration that we currently use was created by Stanley Morison for The Monotype Corporation in 1929. Monotype released a new digital version, called Bembo Book, in 2005.
Bembo is a very legible typeface which is frequently used for books. You can however use Bembo for any type of project in which you need a classical yet stylish look.