Keylogger detection involves monitoring for unusual system behaviors such as delays between typing and character display, analyzing network traffic patterns for data exfiltration. In this study, we provide a comprehensive analysis for keylogger detection with traditional machine learning models - SVC, Random Forest, Decision Tree, XGBoost, AdaBoost, Logistic Regression and Naive Bayes and advanced ensemble methods including Stacking, Blending and Voting. Moreover, feature selection approaches such as Information gain, Lasso L1 and Fisher Score are thoroughly assessed to improve predictive performance and lower computational complexity. The Keylogger Detection dataset from publicly available Kaggle website is used in this project. In addition to accuracy-based classification, this study implements the approach for model interpretation using Explainable AI (XAI) techniques namely SHAP (Global) and LIME (Local) to deliver finer explanations for how much each feature contributes in assisting or hindering the detection process. To evaluate the models result, we have used AUC score, sensitivity, Specificity, Accuracy and F1 score. The best performance was achieved by AdaBoost with 99.76% accuracy, F1 score of 0.99, 100% precision, 98.6% recall, 1.0 specificity and 0.99 of AUC that is near-perfect classification with Fisher Score.