Hematopoiesis is the process of blood cell formation, occurring primarily in the bone marrow, liver, and spleen. Hematopoietic stem cells originate in the yolk sac during embryonic development and migrate to other organs, with bone marrow becoming the primary site post-birth. The document details the differentiation of various stem cells into specialized blood cells, including lymphocytes and myeloid cells, and discusses factors that influence these processes.