Hemostasis is the process by which blood is maintained in a fluid state within blood vessels, but forms clots to prevent blood loss when vessels are damaged. It involves three main components: primary hemostasis where platelets form a plug at the site of injury, secondary hemostasis where fibrin is formed to consolidate the platelet plug, and fibrinolysis which cleans up the clot once it is no longer needed. The process is tightly regulated to prevent inappropriate clot formation under normal conditions through properties of the endothelium like secretion of prostacyclin and nitric oxide. When vessels are damaged, factors like tissue factor activate the coagulation cascade leading to thrombin generation and fibrin clot formation to seal the break.