Bipolar disorder is characterized by recurrent episodes of mania and depression. It was previously known as manic depressive psychosis. Bipolar I involves severe mania and depression while Bipolar II involves hypomania and severe depression. The causes are genetic factors, neurochemical imbalances, and environmental stressors. Treatment involves mood stabilizing drugs like lithium, antipsychotics, psychotherapy, and lifestyle management to reduce symptoms and prevent recurrence.