A URL consists of several key parts that help identify the location of resources on the Internet. It includes the protocol, server name, domain name, and directory and file name. The protocol specifies the communication method, like HTTP or FTP. The server name identifies the server and the domain name provides location information like the country and organization. The directory and file name further specify the resource location on the server. URLs act as addresses for finding information online and are essential for accessing web pages on the Internet.