Marine bony fish maintain osmotic balance by drinking seawater and excreting salts to counteract water loss, while freshwater fish excrete large volumes of dilute urine and absorb salts through their gills. The kidneys play a key role in osmoregulation and excretion for humans and other animals by filtering waste from the blood into urine via nephrons, and reabsorbing useful solutes while regulating water and electrolyte levels through hormones like ADH and aldosterone.