The expression you've provided is $Y^2 - 1$. This can be factored using the difference of squares formula, which states:

$a^2 - b^2 = (a - b)(a + b)$

In your case:

$Y^2 - 1 = (Y - 1)(Y + 1)$

So, the factored form of $Y^2 - 1$ is:

$(Y - 1)(Y + 1)$

Would you like further details or have any questions?

Here are some related questions:

1. How can the difference of squares be applied to more complex expressions?
2. What are other methods of factoring quadratic expressions?
3. How does the difference of squares formula relate to solving quadratic equations?
4. Can the difference of squares be used in real-world applications? If so, how?
5. What are the next steps if we set $Y^2 - 1 = 0$ and solve for $Y$?

Tip: Recognizing patterns like the difference of squares can simplify solving and factoring many types of algebraic expressions.