This article focuses on the evaluation of Hybrid Energy Storage Systems (HESS) utilized in microgrids. HESS can be seen as an amalgamation of several energy storage technologies such as ultracapacitors, superconducting magnetic energy storage, flywheels, and batteries. The integration of these technologies leads to an effective Energy Management System (EMS), which can improve stability, reliability, and flexibility of the microgrid. The paper presents a comprehensive literature survey of the HESS used in microgrids, highlighting the advantages and limitations of each technology. In addition, the paper presents different control strategies used to optimize the energy management of HESS. The use of HESS, energy and power management strategy in HESS, and Supercapacitors (SC) are used in HESS as supplementary Energy Storage Systems (ESS) are also critically analyzed in this article. In conclusion, this document can be seen as a helpful manual for using HESS in Microgrid, complete with features, restrictions, and actual applications.