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Millimeter wave (mmWave) communication is a key technology for fifth generation (5G) wireless communication systems due to its tremendous bandwidth available to support high data rate transmission. This article investigates the recent developments and future challenges in 5G mmWave channel sounders, measurements, and models. Various channel sounders are comprehensively classified and compared. Channel measurements in diverse indoor and outdoor scenarios for different mmWave bands are surveyed. Meanwhile, a comparison of multiple mmWave bands, validation of mmWave massive multiple-input multiple-output (MIMO) channel properties, and measurement and modeling of human blockage effects are shown. Different channel modeling approaches including deterministic, semi-deterministic, and stochastic modeling methods are summarized. Some future research directions are also given.