I'd suggest watching this video
Computerphile: Floating Points
It'll give you a very simple overview about why floating points inherently are imprecise without going into too much technical detail. I'm also bias because I love numberphile.
You need to ask yourself, do you really need that extra 0.00001 of precision? If you really need more precision, use a double instead of a float, but even then you'll still have rounding errors.
If you need even higher precision, you're going to have to use a 3rd party precision arithmetic library. I've never had the need for one, but GMP seems to be popular based on Google results.