What is the method of performing Salatul-Istikharah (the prayer for guidance), what is recited and supplicated during it, how many rak'ahs does it consist of, what is its virtue, and does its method differ among the jurisprudential schools (Hanbali, Shafi'i, and Hanafi)?

The Istikhara prayer is a Sunnah for someone who is hesitant about a certain matter. It is performed for affairs where the right course of action is not clear, and it is not for obligatory acts (wajib) or forbidden acts (haram), but rather for recommended (mandubat) and permissible (mubahat) matters. It begins at the first thought that comes to mind, before you resolve to do it. It is recommended for a Muslim to consult someone whose religiosity and experience they trust before performing Istikhara. In the first rak'ah, after Al-Fatiha, one should recite: "Say, 'O disbelievers!'" (Surat Al-Kafirun), and in the second: "Say, 'He is Allah, [who is] One'" (Surat Al-Ikhlas), or any verses from the Quran that mention goodness. The supplication is made after the prayer or before the taslim (salutation of peace), and supplicating before the taslim is preferable.