The number of new vulnerabilities continues to rise significantly each year. Simultaneously, vulnerability databases have challenges in promptly sharing new security events with enough information to improve protections against emerging cyberattack vectors and possible exploits. In this context, several organizations adopt strategies to protect their data, technologies, and infrastructures from cyberattacks by implementing anticipatory and proactive approaches to their system security activities. To this end, vulnerability management systems play a crucial role in mitigating the impact of cyberattacks by identifying potential vulnerabilities within an organization and alerting cyber teams. However, the effectiveness of these systems, which employ multiple methods and techniques to identify weaknesses, relies heavily on the accuracy of published security events. For this reason, we introduce a discussion concerning existing vulnerability detection methods through an in-depth literature study of several research papers. Based on the results, this paper points out some issues related to vulnerability databases handling that impact the effectiveness of certain vulnerability identification methods. Furthermore, after summarizing the existing methodologies, this study classifies them into four approaches and discusses the challenges, findings, and potential research directions.