State Management in Blazor

Blazor's essence lies in its extensive use of components, which act as the fundamental building blocks of Blazor applications. These components offer the advantage of reusability and self-contained user interface elements. However, the component-based structure also requires effective management of the data that passes between them.
The purpose of this post is to thoroughly explore the available options for state management in Blazor. It will delve into each option, examining their strengths and weaknesses. Additionally, I will share my personal preference, highlighting the approach that resonates most favorably with me.