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Britain's monarchy is still enjoying huge levels of public support. [...] Many recent polls have indicated that support for the monarchy is increasing.
One of the latest, conducted by Ipsos Mori, shows that 76 percent of Britons think the country should remain a monarchy while 17 percent believe it should be a republic with an elected president. Back in 1998, only 66 percent of people believed the monarchy had an important role to play in Britain's future.

Text taken from WWW.FORBES.COM

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Actual states with a constitutional monarchy

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Actual states with a constitutional monarchy

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Some countries, like Canada, Australia, New Zealand and other Pacific and Caribbean little islands (which some of them are still British colonies) share the same monarch of the United KIngdom because of their colonial past.

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The Magna Carta Libertatum is a charter agreed to by King John of England on 15 June 1215. It promised the protection of church rights, protection for the barons from illegal imprisonment, access to swift justice, and limitations on feudal payments to the Crown, to be implemented through a council of 25 barons.
The Magna Charta is the first act in the European history that allowed some civil right and gave some powers to an assembly.

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The Bill of Rights (1689) lays down limits on the powers of the monarch and sets out the rights of Parliament, including the requirement for regular parliaments, free elections (although only a part of the people could vote), and freedom of speech in Parliament.

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The oldest constitutional monarchy dating back to ancient times was that of the Hittites.

But the first European constitutional monarchy in the modern age was settled in the Kingdom of England after the Glorious Revolution (1688) with the Bill of Rights (1689) and the Act of Settlement (1701), that reduced the political weight of the king and eliminated any threat of an absolute monarchy.
However the first act that decreased the power of the king was the Magna Charta (1215).

The Royal coat of arms of the UK

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The constitutional monarchy is completely different from an autocratic or even totalitarian form of government because in the constitutional one citizens have rights (freedom of speech, of though, of press...) that people with an overwhelming dictatorship haven't got. Moreover the monarch's position is legitimated, while it's not the same with a dictator, which one is often taken and maintained with the force.

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Generally monarchs hold formal functions such as dissolving parliament or condition the parliament (in some cases they take part in the assemblies), although their power is hugely strictly according to the constitution in order to limit their monocratic influence.
However in Europe the monarch no longer chooses political leaders, but he has got only the function of representative of the state.

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Constitutional monarchs are bound to exercise their powers and authorities in accordance with a written or unwritten constitution in a modern democratic state

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A constitutional monarchy is a form of monarchy in which the sovereign exercises their authorities within some prescribed limits.