Machine learning using Python involves several key steps including data collection, exploratory data analysis, model selection, training, evaluation, and deployment. Essential Python libraries include NumPy, pandas, Matplotlib, Seaborn, scikit-learn, TensorFlow, Keras, and PyTorch, each serving specific roles in scientific computing, data manipulation, visualization, and machine learning. Popular algorithms utilized range from linear regression to clustering techniques, aimed at solving various problems in the field.