What are the advantages and disadvantages of an electrolytic capacitor?

Electrolytic capacitors offer high capacitance values in a relatively small size, making them ideal for applications requiring large energy storage, such as power supply filtering. However, they have disadvantages, including a polarized nature, which limits their usage in AC circuits, and a shorter lifespan compared to other capacitor types, especially in high-temperature environments. Additionally, they can have higher equivalent series resistance (ESR), which may affect performance in certain applications.