Excitable tissues like neurons and muscles have a resting membrane potential of -70mV due to ion gradients established by pumps and permeability. An action potential occurs when the membrane reaches a threshold for opening voltage-gated sodium channels, causing rapid depolarization to +30mV then repolarization as potassium channels open. This propagates along membranes to transmit signals. The sodium-potassium pump restores ion gradients for the next action potential.