The bisection method is a root-finding algorithm that can be used to find real roots of polynomials. It works by repeatedly bisecting an interval defined by two values with opposite signs of a continuous function, and selecting the subinterval where the function changes sign, narrowing in on the root. Other methods like Descartes' Rule of Signs, Sturm's theorem, and Budan's theorem can help determine if a polynomial has real roots within an interval to make bisection more efficient. The example demonstrates using bisection to find a root of the polynomial f(x)=x^3 - x - 2, converging on the solution of 1.521 after 15 iterations of bisecting intervals.