<p>This study investigates the Modified Complex Ginzburg–Landau Equation, a fundamental nonlinear partial differential equation that plays a central role in modeling complex wave dynamics, pattern formation, and dissipative phenomena in systems such as nonlinear optics, Bose–Einstein condensates, superfluids, and plasmas. Despite its importance, obtaining exact analytical solutions and understanding their stability properties remain challenging problems with significant theoretical and practical implications. To address this challenge, the Modified Extended Direct Algebraic Method is employed to construct exact analytical solutions in a systematic and efficient manner. By transforming the governing nonlinear equation into an algebraically solvable system, a broad and unified family of exact solutions is derived. These solutions include bright and dark solitons, singular solutions, periodic and singular periodic waves, as well as solutions expressed in exponential, Weierstrass elliptic, and Jacobi elliptic function forms. In addition, a comprehensive stability analysis is carried out to examine the response of these wave structures to small perturbations and to assess their long-term dynamical behavior. The physical characteristics and dynamical features of the obtained solutions are illustrated through detailed two-dimensional and three-dimensional graphical representations for selected parameter values. The results demonstrate the effectiveness of the Modified Extended Direct Algebraic Method in analyzing complex nonlinear models and provide deeper insight into wave propagation and stability mechanisms in dissipative systems governed by the Modified Complex Ginzburg–Landau Equation.</p>