Trolls in my games reproduce asexually, through
budding. Due to their high mutation rate (which explains the huge number of different troll species), each troll is a different individual, not genetically identical.
Trolls are one of the races created by the Batrachi progenitor race in an attempt to create perfect soldiers. However, when the majority of Batrachi left Faerûn for other planes or the far future, trolls were left behind and eventually bonded with giants (whom they were created to fight). For this reason, many people mistake trolls for a type of giant.
Batrachi themselves split into several branches, broadly defined by the type of experimentation they mastered. One branch, which specialized in trans-dimensional magic, evolved into ethergaunts and spellweavers; another, which favored transmutation, migrated to Limbo where they modified the slaad Spawning Stone and reshaped the slaad races in their image; and yet another mastered psionic abilities and time travel and eventually evolved into mind flayers (doppelgangers, who were also created by the Batrachi, often follow mind flayers for this reason).