The growing worldwide population is directly responsible for the increased production and consumption of textile products. One of the key reasons for the generation of microfibers is the use of textiles and garment materials, which is expected to increase. The textile industry is responsible for the invisible pollution that is created by textile microfibers, which have been detected in marine sediments and organisms. The present review paper demonstrates that the microfibers discharged from functionalized textiles exhibit non-biodegradable characteristics and that a considerable proportion of them possess toxic properties. This is primarily attributed to the impact of textiles’ material functionalization on their biodegradability. The potential for these microfibers, which are released from textiles that contain a variety of dyes, toxic chemicals, and nanomaterials, to pose a variety of health risks to both humans and other living organisms is discussed in this paper. In addition, this paper covers a wide variety of preventative and minimizing measures for reduction, which are discussed in terms of several phases ranging from sustainable production through the consumer, end of life, domestic washing, and wastewater treatment phases.