You're debugging a multi-threaded application and encountering deadlocks. Explain how you would identify and resolve deadlock situations effectively.

Deadlocks in multi-threaded applications can be challenging but can be effectively managed. Utilizing resource allocation graphs helps visualize resource dependencies and identify potential deadlock situations. Deadlock detection algorithms can automate this process by periodically checking for circular wait conditions among threads. Implementing a timeout mechanism for lock acquisition prevents threads from waiting indefinitely, mitigating deadlock occurrences. Reducing the number of locks and ensuring a consistent lock acquisition order across threads also minimizes the chances of deadlocks. These strategies combined help in identifying and resolving deadlock situations effectively during application debugging.