Buffer solutions resist changes in pH upon the addition of small amounts of acid or base through buffer action. A buffer is a combination of a weak acid and its conjugate base. The pH of a buffer solution depends on the ratio of the concentration of the salt to the acid based on the Henderson-Hasselbalch equation. Factors like the addition of neutral salts, dilution, and temperature can impact the pH of a buffer solution. Buffers have various applications in pharmaceutical formulations to adjust pH for stability and therapeutic effects.