Self-medication involves treating minor ailments without medical consultation and is common due to factors like limited access to healthcare and marketing of drugs. While it provides benefits like reduced costs and wait times, risks include incorrect diagnosis, adverse side effects from drug interactions, and development of antimicrobial resistance. Pharmacists can help mitigate these risks through education on proper medication use, counseling patients, and encouraging consultation with doctors when appropriate. Responsible self-medication requires regulation and awareness of both its benefits and potential harms.