A magnet is an object that produces a magnetic field, which can attract or repel certain materials, primarily metals like iron, nickel, and cobalt. Magnets have two poles: a north pole and a south pole. When two magnets are brought close together, opposite poles attract each other, while like poles repel. Magnets are commonly used in various applications, including electric motors, refrigerator doors, and compasses. They can be found in everyday items, such as credit cards and speakers, where they help convert electrical energy into mechanical energy or store data.