How does CryptoLocker work?

Could you elaborate on the workings of CryptoLocker? I'm curious to understand the mechanics behind this notorious ransomware. Specifically, how does it infiltrate systems? What encryption algorithms does it utilize to lock down files? And how does the ransom payment process function? I'm also interested in knowing if there are any common methods of prevention or mitigation strategies that individuals and organizations can adopt to safeguard themselves from CryptoLocker's threat. I would appreciate a detailed breakdown of the ransomware's lifecycle from initial infection to eventual payment, if any.