Light is considered massless, as photons do not possess inertial mass despite having momentum and energy. The relationship between energy and mass is encapsulated in Einstein's equation E=mc², but this does not imply that energy itself has mass. Photons travel at the speed of light in a vacuum, but their effective speed can decrease when passing through materials like lenses or prisms due to interactions with electrons. The discussion raises the possibility that photons may always travel at light speed, with the apparent slowdown resulting from absorption and re-emission processes. Overall, the nature of photons remains complex, intertwining concepts of mass, energy, and momentum.