Topological methods are techniques for software component retrieval from repositories based on similarity between query specifications and component properties. They rely on defining a distance measure between queries and components. PageRank is used to calculate importance scores for components based on their relationships to other components defined by shared keywords. It is an iterative process where initial scores are calculated and used to recalculate new scores until they converge. PageRank allows for ranking of components in a repository based on their relevance to queries.