Yoast's WordPress SEO plugin provides many features for optimizing websites for search engines. The plugin has good default settings but often needs tweaking to individual sites' needs. Key areas the plugin addresses include titles and metas, variables, XML sitemaps, permalinks, and on-page SEO elements. The plugin saves significant time through features like importing/exporting settings and editing files. Proper configuration requires understanding different sections, uniquely identifying pages, and applying "noindex, follow" appropriately.