"Grokking Algorithms" is a highly recommended book that simplifies the understanding of key algorithms through engaging examples and numerous illustrations, making it particularly beneficial for self-taught programmers. It uses Python code samples to demonstrate important concepts such as the differences in performance between data structures like arrays and linked lists, the efficiency of binary search compared to selection sort, and the practical applications of basic algorithms like hash table lookups and recursion. The book also covers more advanced topics such as the use of Dijkstra's algorithm for finding the shortest path in graphs, the k-nearest neighbors algorithm for recommendations, and dynamic programming illustrated through the knapsack problem and word suggestion implementations. Its focus on making complex ideas accessible and practical real-life applications makes it a valuable resource for both beginners and those seeking to refresh their algorithm knowledge.