The impact of information retrieval and knowledge management in library and librarianship has evolved significantly with the advent of digital technologies and modern information systems. This study investigates the key role that libraries and librarians play in enhancing information retrieval processes and knowledge dissemination in academic, research, and public settings. It highlights the transformation of libraries from traditional repositories of books to dynamic centers for knowledge access and creation. The paper explores how advancements in digital libraries, metadata management, and search algorithms have enabled more efficient retrieval of information, thus empowering researchers, students, and the public. Furthermore, the research examines the skills and evolving role of librarians as key facilitators of knowledge management, curating and guiding users through vast resources. Challenges such as the digital divide, limited resources, and the need for ongoing professional development are also considered. The study concludes with recommendations for the future of librarianship, emphasizing the importance of adopting emerging technologies and continuing to support open access initiatives for better knowledge sharing.