In the electrical circuits,
why and how the under damping problem occurs in the electrical waveforms ?
What is the reason behind to have a under damping issue in the electrical waveforms ?
How to overcome this problem ?

 

That's a very general question that has no one answer.
It really depends upon the circuit, as to whether undamping is a problem.

In general, underdamping refers to circuits that have a resonance (tendency to oscillate).
This resonance can be from LC elements in the circuit, either discrete or parasitic, or by positive feedback from the output to the input at the resonant frequency..
If it's underdamped than the resonance can exhibit overshoot and ringing for a step change in signal amplitude or even oscillate.

The underdamping can be eliminated by adding damping to the circuit in the form of feedback phase shift or adding lossy elements (resistance) at proper points in the circuit.

Here's some info on damping factor.

 

The components will get over heat due to under damping ?

 

The components will get over heat due to under damping ?

No -- not very likely. This behavior is common in systems that are described by 2nd order linear differential equations with constant coefficients. There is an electronic system with this behavior that includes an inductor, a capacitor, and a resistor. As you know the resistor is the only component that can turn electrical energy into heat. The other components may have small losses, that can usually be ignored because they are of a "second order of smallness". There is also a mechanical system consisting of a spring, a mass, and a dashpot (shock absorber). If you have a car with bad shocks and drive it over a step function (a curb) it will exhibit an underdamped response. Only replacing the shocks will fix the problem.