The olfactory system is responsible for the sense of smell. It consists of specialized sensory cells located in the nasal cavity that detect odor molecules. When these molecules bind to the receptors, they send signals to the brain, allowing us to identify and differentiate various scents. This system plays a crucial role in many aspects of life, including taste and memory. The olfactory bulb, a key part of the brain, processes these signals and helps us recognize familiar smells, such as food or flowers, enhancing our overall sensory experience.