IP addresses are unique 32-bit numbers assigned to each device on a network. They are typically expressed as four octets in dotted decimal format like 216.183.103.150. There are several types of cables used in networking, including unshielded twisted pair (UTP), coaxial, fiber optic, and shielded twisted pair cables. Proper installation of network cabling requires using the correct cable type and connectors, adhering to wiring standards, and testing cables for errors.