There is no way to find the square root of a negative number. It just doesn't work. So the answer to the impossible question, "What number squared equals a negative number?" is just said to be $i$, an imaginary number.
So now let's look at a different problem. What is one divided by zero? Of course, you can't answer that question. It doesn't make any sense. Splitting up a chocolate bar to a group of 0 friends isn't possible. It's like being told to walk north when standing on the north pole. So, what if just like $i$, we just say $1/0$ is an imaginary number, referenced by the letter $o$?
What applications would this have? Does it even work? The number $i$ has real life applications, but it can also be used to create abstract designs like the Mandelbrot Set. Could $o$ even be used for an abstract purpose?
Fundamentally, complex numbers were used because they arose naturally in polynomial roots. However, division by zero has no such purpose. In fact, if division by zero was defined, then $(0\cdot 1)\frac 10=(0\cdot 2) \frac{1}{0}\implies 1 = 2.$ (Oops). However, if you are willing to forego standard properties, then you get an algebra called a wheel. You can learn more about it here: https://en.wikipedia.org/wiki/Wheel_theory