The algebraic identity $\frac{k^2}{k^2-m^2} = 1 + \frac{m^2}{k^2-m^2}$ can be proven by combining the right-hand side terms over a common denominator or by using polynomial division on the left-hand side. Multiplying both sides by $(k^2 - m^2)$ simplifies the equation and clarifies the identity. Participants in the discussion suggest various methods for solving algebraic equations and emphasize the importance of practice to become proficient. Additionally, recommendations for resources, such as textbooks, are made to aid in learning and practicing algebraic techniques. Engaging with these methods and resources can enhance understanding of algebraic identities and equations.