The present review focuses on the recent studies carried out in passive micromixers for understanding the hydrodynamics and transport phenomena of miscible liquid–liquid (LL) systems in terms of pressure drop and mixing indices. First, the passive micromixers have been categorized based on the type of complexity in shape, size, and configuration. It is observed that the use of different aspect ratios of the microchannel width, presence of obstructions, flow and operating conditions, and fluid properties majorly affect the mixing characteristics and pressure drop in passive micromixers. A regime map for the micromixer selection based on optimization of mixing index (MI) and pressure drop has been identified based on the literature data for the Reynolds number (Re) range (1 ≤ Re ≤ 100). The map comprehensively summarizes the favorable, moderately favorable, or non-operable regimes of a micromixer. Further, regions for special applications of complex micromixer shapes and micromixers operating at low Re have been identified. Similarly, the operable limits for a micromixer based on pressure drop for Re range 0.1 < Re < 100,000 have been identified. A comparison of measured pressure drop with fundamentally derived analytical expressions show that Category 3 and 4 micromixers mostly have higher pressure drops, except for a few efficient ones. An MI regime map comprising diffusion, chaotic advection, and mixed advection-dominated zones has also been devised. An empirical correlation for pressure drop as a function of Reynolds number has been developed and a corresponding friction factor has been obtained. Predictions on heat and mass transfer based on analogies in micromixers have also been proposed.