Fatigue refers to the progressive and localized structural damage that occurs when a material is subjected to repeated loading and unloading, typically at levels below its ultimate strength. Several failure mechanisms have been observed in practical scenarios, encompassing high-cycle, low-cycle, thermal, surface, corrosion, and fretting fatigue. Fatigue, connected to the failure of numerous engineered products, stands out as a prevalent cause of structural failure in service. Conducting research on the advancement and application of fatigue analysis technologies is crucial because fatigue analysis plays a critical role in determining the service life of components and mitigating the risk of failure. This study compiles data from a wide range of sources and offers a thorough summary of the state of fatigue analysis. It focuses on the effects of different parameters, including hardness, temperature, residual stresses, and hardfacing, on the fatigue life of different materials and their alloys. The fatigue life of alloys is typically high at low temperatures, but it is significantly reduced at high temperatures or under high-stress conditions. One of the main causes of lower fatigue life is residual stress. High-temperature conditions and hardfacing processes cause the development of tensile residual stresses, which in turn decreases fatigue life. But, if the hardness of the material significantly increases due to hardfacing, then the fatigue life also increases. This manuscript focuses on reviewing the research on fatigue-life prediction methods, shortcomings, and recommendations.