Properties exhibited by high entropy alloys are globally influenced by the phases present in the alloys, among other factors. Incidentally, their applications are principally determined by the properties they possess. In this study, we look at the phases present in HEAs and the properties exhibited by these alloys. Studied further are their prospective applications. The resource materials were sourced from Scopus database and google scholar website of articles published in the last five years, laying more emphasis on the most recently published works. In the study, it was concluded that double-phase HEAs are more useful than single-phase counterparts because of the synergy existing between the double phases. It was also found that single-phase HEAs are useful in automotive springs and electronic transistors, while double-phase HEAs are applied in biomedical implants.