There are other answers. But I wanted to include this answer wherein we reduce the matrix to the identity and ensures the existence of the inverse.
Denote the given matrix by $A.$
1) $c=0$
If $c=0,$ then $a$ and $d$ both has to be non-zero, otherwise we would have $ad-bc=0.$
Row-reducing $\begin{bmatrix}a&b\\0&d\end{bmatrix}\to \begin{bmatrix}1&b/a\\0&1\end{bmatrix}\to \begin{bmatrix}1&0\\0&1\end{bmatrix}$
Thus $A$ is invertible.
2) $a=0$
If $a=0$ then $b$ and $c$ both has to be non-zero, otherwise we would have $ad-bc=0.$
Row-reducing $\begin{bmatrix}0&b\\c&d\end{bmatrix}\to\begin{bmatrix}0&1\\1&d/c\end{bmatrix}\to\begin{bmatrix}0&1\\1&0\end{bmatrix}\to\begin{bmatrix}1&0\\0&1\end{bmatrix}$
$A$ is invertible in this case too.
3) $a\ne 0, c\ne 0$
Row-reducing $\begin{bmatrix}a&b\\c&d\end{bmatrix}\to \begin{bmatrix}ac&bc\\ac&ad\end{bmatrix}\to\begin{bmatrix}ac&bc\\0&ad-bc\end{bmatrix}\to\begin{bmatrix}ac&bc\\0&1\end{bmatrix}\to\begin{bmatrix}ac&0\\0&1\end{bmatrix}\to\begin{bmatrix}1&0\\0&1\end{bmatrix}.$
Thus $A$ is invertible in all the cases and the inverse exists.
The explicit form of the inverse is given in one of the other answers to the question.