In the early 1970s, two young, ambitious reporters from The Washington Post, Bob Woodward and Carl Bernstein, are assigned to cover the seemingly low-profile case of a break-in at the Democratic National Committee headquarters at the Watergate complex. Initially treated as a minor story, their curiosity and investigative instincts kick in when they discover peculiarities in the burglars' backgrounds and the trail of evidence indicating high-level involvement. Their reporting opens up a labyrinth of political subterfuge, secret funds, and covert operations.

As Woodward and Bernstein delve deeper into the investigation, they encounter resistance at every turn. Relying on a mysterious informant known only as "Deep Throat," they are guided through a maze of misinformation and danger. Their determination to uncover the truth pits them against powerful government forces, putting their careers and personal safety at risk. Amidst challenges, the duo's unwavering commitment to their journalistic duty becomes a testament to the importance of the free press, emphasizing its role in safeguarding democracy against corruption and abuse of power.