Before I begin, let me point out that we all know one important higher-degree form: the determinant form of degree $n$ in $n$ variables for all $n$. So it is reasonable to ask what kind of general theory there could be for higher degree forms.
First let's see that the bijection between quadratic forms and symmetric bilinear forms generalizes to higher degree.
Recall for a field $F$ not of characteristic $2$, there is a bijection between quadratic forms $Q : F^n \to F$ and symmetric bilinear forms $B : F^n \times F^n \to F$ by $Q(\mathbf x) = B(\mathbf x,\mathbf x)$ and
$$
B(\mathbf x,\mathbf y) = \frac{1}{2}(Q(\mathbf x + \mathbf y) - Q(\mathbf x) - Q(\mathbf y)).
$$ Replacing $2$ by a degree $d \geq 1$, for a field $F$ where $d! \not= 0$ (meaning $F$ has characteristic $0$ or characteristic $p$ for $p > d$) there is a bijection between forms $f : F^n \to F$ of degree $d$ and symmetric $d$-multilinear maps $\Phi : \underbrace{F^n \times \cdots \times F^n}_{d \ {\sf copies}} \to F$ where $f(\mathbf x) = \Phi(\mathbf x,\ldots,\mathbf x)$ and
$$
\Phi(\mathbf x_1,\ldots,\mathbf x_n) =
\frac{1}{d!}\sum_{\substack{J \subset \{1,\ldots, d\} \\ J \not= \emptyset}} (-1)^{d - |J|}f\left(\sum_{j \in J} \mathbf x_j\right),
$$$$
\Phi(\mathbf x_1,\ldots,\mathbf x_d) =
\frac{1}{d!}\sum_{\substack{J \subset \{1,\ldots, d\} \\ J \not= \emptyset}} (-1)^{d - |J|}f\left(\sum_{j \in J} \mathbf x_j\right),
$$
(You could include $J = \emptyset$ in the sum by the usual convention that an empty sum is $\mathbf 0$, since $f(\mathbf 0) = 0$.) For example, when $f$ is a cubic form ($d = 3$, $n$ arbitrary), the associated symmetric trilinear form is
$$
\Phi(\mathbf x,\mathbf y,\mathbf z) = \frac{1}{6}(f(\mathbf x + \mathbf y + \mathbf z) - f(\mathbf x + \mathbf y) - f(\mathbf x + \mathbf z) - f(\mathbf y + \mathbf z) + f(\mathbf x) + f(\mathbf y) + f(\mathbf z)).
$$
For example, if $f : F^3 \to F$ by $f(x_1,x_2,x_3) = x_1^3+x_2^3+x_3^3$ then $\Phi(\mathbf x,\mathbf y,\mathbf z) = x_1y_1z_1 + x_2y_2z_2+x_3y_3z_3$.
The general formula for $\Phi$ in terms of $f$
shows why we want $d! \not= 0$ in $F$.
Over fields of characteristic $0$, I think this bijection is due to Weyl.
Using this bijection, we call a form $f$ of degree $d$ nondegenerate if, for the corresponding symmetric multilinear form $\Phi$, we have
$\Phi(\mathbf x,\mathbf y, \ldots, \mathbf y) = 0$ for all $\mathbf y$ in $F^n$ only when $\mathbf x = \mathbf 0$. In degree $2$(Equivalently,
we have $\Phi(\mathbf x,\mathbf x_2, \ldots, \mathbf x_d) = 0$ for all $\mathbf x_2, \ldots, \mathbf x_d$ in $F^n$ only when $\mathbf x = \mathbf 0$.) When $d = 2$ (the case of quadratic forms), this is the usual notion of a nondegenerate quadratic form (or nondegenerate symmetric bilinear form).
For a form $f(x_1,\ldots,x_n)$ over a field $F$, its orthogonal group is the linear changes of variables on $F^n$ that preserve it:
$$
O(f) = \{A \in {\rm GL}_n(F) : f(A\mathbf v) = f(\mathbf v) \ {\rm for \ all } \ \mathbf v \in F^n\}.
$$
Nondegenerate quadratic forms have a rich orthogonal group (many reflections) and some higher-degree forms have a large orthogonal group: if $f$ is the determinant form of degree $n$ then its orthogonal group contains ${\rm SL}_n(F)$. But
forBut for a nondegenerate form $f$ of degree $d \geq 3$ over an algebraically closed field of characteristic $0$, $O(f)$ is sometimes a finite group. The version of This happens if the corresponding symmetric $d$-multilinear form $\Phi$ satisfies $\Phi(\mathbf x, \ldots, \mathbf x,\mathbf y) = 0$ for all $\mathbf y$ in $F^n$ only when $\mathbf x = 0$. When $d \geq 3$ this condition is different from nondegeneracy as defined above. Let's say such $f$ and $\Phi$ are nonsingular. That nonsingular forms of degree $d$ have a finite orthogonal group over $\mathbf C$ goes backis due to Jordan.
It also holds inover algebraically closed fields of characteristic $p$ when $p > d$ (so that $d! \not= 0$ in the field).
For $d \geq 3$As an example, the orthogonal group of $x_1^d + \cdots + x_n^d$ over $\mathbf C$ when $d \geq 3$ has order $d^n n!$: it contains only the compositions of $n!$ coordinate permutations and scaling of each of the $n$ coordinates by $d$th roots of unity. Taking $n = 2$, this reveals a basic difference between the concrete binary forms $x^2 + y^2$ and $x^d + y^d$ for $d \geq 3$ that you can tell anyone who asks you in the future how higher degree forms are different from quadratic forms.