The FitzHugh–Nagumo model has been used empirically to model certain types of neuronal activities. It is also a non-linear dynamical system applicable to chemical kinetics, population dynamics, epidemiology and pattern formation. In the literature, many approaches have been proposed to study its dynamics. In this paper, initially, we have employed cutting-edge tools from discrete dynamics for discretization and fixed points. It has been proven that an exact discrete scheme exists for this paradigm. This project also considers the phase space and integral surfaces of these evolutionary equations. In addition, it carries out a thorough symmetry analysis of this reaction diffusion system to find equivalent systems. Moreover, steady-state solutions are obtained using ansatzes for traveling wave solutions. The existence of infinite traveling wave solutions has also been proven. Yet again, this investigation establishes the potential of symmetry methods to unravel non-linearity. Finally, singular perturbation theory has been employed to obtain analytical approximations and to study stability in different parameter regimes.