The need for more in-depth exploration of the human immune system has moved the flow cytometry field forward with advances in instrumentation, reagent development and user-friendly implementations of data analysis methods. The increase in the number of markers evaluated simultaneously requires a careful selection of highly overlapping dyes to avoid introducing detrimental spread and compromising population resolution. In this manuscript, we present the strategy used in the development of a high-quality human 45-color panel which allows for comprehensive characterization of major cell lineages present in circulation including T cells, gamma delta T cells, NKT-like cells, B cells, NK cells, monocytes, basophils, dendritic cells, and ILCs, as well as more in-depth characterization of memory T cells. The steps taken to ensure that each marker in the panel was optimally resolved are discussed in detail. We highlight the outstanding discernment of cell activation, exhaustion, memory, and differentiation states of CD4+ and CD8+ T cells using this 45-color panel, enabling an in-depth description of very distinct phenotypes associated with the complexity of the T cell memory response. Furthermore, we present how this panel can be effectively used for cell sorting on instruments with a similar optical layout to achieve the same level of resolution. Functional evaluation of sorted specific rare cell subsets demonstrated significantly different patterns of immunological responses to stimulation, supporting functional and phenotypic differences within the T cell memory subsets. In summary, the combination of flow cytometry full spectrum technology, careful assay design and optimization, results in high resolution multiparametric assays. This approach offers the opportunity to fully characterize immunological profiles present in peripheral blood in the context of infectious diseases, autoimmunity, neurodegeneration, immunotherapy, and biomarker discovery.