Respiration is the process by which organisms break down glucose and other organic molecules to extract energy to power cellular processes. It involves three main stages: glycolysis in the cytoplasm, the link reaction producing acetyl CoA, and the Krebs cycle in the mitochondria. These stages release energy that is captured in ATP molecules and electron carriers like NADH and FADH2, which will be used later in the electron transport chain to produce more ATP through oxidative phosphorylation.