High quality images are usually produced with expensive cameras and high-priced lenses. These equipment are designed to take advantage of the latest advancement in sensor designs and optics technology to correct aberrations and distortions.
Now researchers at the University of British Columbia are working on software experiments that may correct all the short comings of less expensive lenses with just a click of the button. This technique was presented at SIGGRAPH 2013, and it offers the promise of a future software solution to those who cannot afford to buy expensive lenses. For their experiments, the researchers developed a hand-made lens using only one element and then processed the resulting test images through their software to generate sharper results.
You can read the full technical paper here but the basic technology relies on software that will correct for blur, distortion and aberration and produce a high-quality image by identifying the Point Spread Functions (PSF) of the original lens.