Over the past two decades, the phenomenon of electrical stray currents in bearings has garnered significant attention from researchers and industry professionals. With the widespread adoption of electric motors and generators in applications like electric vehicles and sustainable energy sources, understanding and mitigating the potential bearing damage caused by these currents has become paramount. This paper provides a concise review of the sources of electrical bearing damage, failure modes, and their implications for critical tribological factors such as bearing life and lubrication. Special emphasis is placed on the challenges posed by elastohydrodynamic lubrication in the presence of electrical potential and the impact on durability, highlighting the need for further research. The paper concludes by emphasizing the importance of collaboration among original equipment manufacturers (OEMs), tier suppliers, lubrication additive companies, and academic institutions in advancing our understanding and effectively addressing electrically induced bearing damage. By exploring this complex topic, this paper aims to contribute to the broader scientific knowledge base and inspire future investigations in this field.