Ruined portals are naturally generated and are damaged nether portals, they can be found in the nether and the overworld. They can get generated in any type of biome, underground, and even underwater. It also spawns a loot chest next to it which has items such as obsidian, golden equipment, and gold-related food such as golden apples.
A ruined portal (via screenshot)
Ruined portals are the only structure that is generated in all biomes of the nether and the overworld. Natural terrain around ruined portals is generated as netherrack. Giant ruined portals have 3 distinct designs whereas normal ones have 10, when a ruined portal is generated there is a 5% chance for it to be a giant ruined portal this gives normal ruined portals a 95% chance of spawning as one of the 10 designs.
A rare underwater ruined portal (via screenshot)
Ruined portals generate incomplete portal frames which are composed of obsidian and sometimes crying obsidians, although nether portals cannot be activated with crying obsidian in their frames. Sometimes they can be found flat on the ground as if they were toppled over but most of them are free-standing as if they are being assembled.
All ruined portals will have a chest spawn close to them which is filled with loot, these chests contain various golden items and can also have stuff required to build a nether portal such as obsidian or flint and steel.
Whenever a ruined portal is generated in the overworld it will be surrounded by other small structures made from stone, stone bricks, and iron bars. Ruined portals that are generated in the nether are surrounded by blackstone and its variants, and chains.
Portal chests contain lots of items that are usually related to gold. In Java Edition the following items can be found in the chest in 4-8 stacks:
A chest next to a ruined portal (via screenshot)
Bedrock Edition has the same spawn rates for items in a ruined portal chest. Most of the time you will get enough obsidian from the chest to complete the portal.
Ruined portals are a quick way for you to get into the nether if you are able to obtain all the required obsidian from the chest. They can also prove good equipment if find yourself without any, golden equipment isn't the best but is still better than having nothing.
A. A ruined portal can be fixed by replacing blocks that are not obsidian and placing obsidian blocks in empty spaces where it is required.
A. Ruined portals are naturally generated so there isn't a proper guide to find them except for exploring the world.
A. Yes, you will always find a chest filled with items near a ruined portal.