The Henderson-Hasselbalch equation describes the pH of a buffer solution in terms of the acid dissociation constant (pKa) and the concentrations of the conjugate acid and base. It relates pH to the log of the concentration ratio of the conjugate base to the conjugate acid. The equation was derived from acid-base equilibrium chemistry and is useful for estimating pH and studying metabolic processes involving buffers. It has limitations for very strong or dilute solutions where dissociation reactions are not negligible.