Lipid rafts are small, dynamic, cholesterol and sphingolipid-enriched domains in the plasma membrane that compartmentalize cellular processes and mediate various functions, particularly in neuronal cell signaling and adhesion. Discovered through research dating back to 1972, lipid rafts play crucial roles in diseases such as Alzheimer's and prion disorders by facilitating the transport of proteins and other molecules within the membrane. These microdomains vary in structure and can influence membrane integrity and fluidity, emphasizing the importance of cholesterol in their formation and functionality.