Glycolysis is the metabolic pathway that converts glucose into pyruvate and produces ATP. It occurs in ten steps and involves the conversion of glucose into two three-carbon molecules. The first five steps are the preparatory phase where ATP is consumed, and the last five steps are the payoff phase where ATP is produced, resulting in a net production of two ATP per glucose molecule. Glycolysis also produces two NADH molecules. Disruptions to glycolysis can lead to diseases like diabetes or genetic disorders impacting cellular respiration.