In this thesis, we review the stability problem for traveling waves and discuss the Evans function, an emerging tool in the stability analysis of traveling waves. We describe some recent developments in the numerical computation of the Evans function and discuss STABLAB, an interactive MATLAB based tool box that we developed. In addition, we verify the Evans function for shock layers in Burgers equation and the p-system with and without capillarity, as well as pulses in the generalized Kortweg-de Vries (gKdV) equation. We conduct a new study of parallel shock layers in isentropic magnetohydrodynamics (MHD) obtaining results consistent with stability.