Miller's Law, proposed by psychologist George A. Miller in 1956, suggests that the average number of objects an individual can hold in working memory is about seven, plus or minus two. This means that people can typically remember between five and nine items at a time, which has implications for various fields, including education and communication. The law highlights the limitations of human memory and emphasizes the importance of chunking information. By grouping related items together, individuals can enhance their ability to retain and recall information, making it easier to process complex data in everyday situations.