Emulsions are mixtures of immiscible liquids with two types: oil-in-water and water-in-oil, facing instability issues like creaming and coalescence. Stability assessment methods include microscopy and zeta potential measurements, while applications for emulsions span oral and topical drug delivery, offering advantages like improved bioavailability but facing challenges like separation. Suspensions, which contain solid particles in a liquid, are utilized for drugs with poor solubility and require specific characteristics for effective use, including uniform dispersion and easy redispersibility.