Spirometry is a method for assessing lung function by measuring air volume expelled after maximal inhalation, useful for differentiating between obstructive and restrictive lung disorders. It has various indications including evaluating lung disease symptoms, monitoring therapy effectiveness, and conducting preoperative assessments, but has contraindications such as recent severe health issues. Key parameters include FEV1, FVC, and peak expiratory flow, with interpretations helping to assess airflow limitations and lung volume restrictions related to various respiratory conditions.