Holmes and Rahe developed the Social Readjustment Rating Scale (SRRS) to measure life changes and their associated stress levels. They identified 43 common life events and had participants rate them on the amount of adjustment required, with marriage rated highest. Events like divorce and bereavement required more adjustment than others. Their research found that individuals with over 300 life change units in a year had an 80% chance of illness, linking life stressors to health issues.