Cre-Lox recombination is a site-specific recombination technology used to manipulate genes at specific sites in the DNA of living organisms. The system consists of two main components: the Cre recombinase enzyme and LoxP sites. Cre recombinase, derived from the P1 bacteriophage, recognizes and binds to specific DNA sequences known as LoxP sites, facilitating recombination between them.