The cell membrane, or plasma membrane, is a selective barrier that protects the cell and regulates the movement of substances in and out, consisting of a phospholipid bilayer with embedded proteins. It plays crucial roles in processes like cell adhesion, ion conductivity, and cell signaling, and allows for both passive and active transport of molecules. The membrane's structure and components, including cholesterol, transport proteins, and carbohydrates, contribute to its functionality and stability.