Microbial growth occurs in four phases: lag phase, log/exponential phase, stationary phase, and death phase. During lag phase, cells acclimate to new conditions and prepare for growth. In log phase, cells divide at a constant rate and growth is balanced. As nutrients deplete in stationary phase, growth slows. Finally, in death phase cell numbers decline as viability decreases over time. The growth of a microbial culture can be studied by plotting the logarithm of cell numbers over time to visualize these four distinct phases of growth.