Three main strategies that I know of:
Starting traversing the list and keep track of all the nodes you've visited (store their addresses in a map for instance). Each new node you visit, check if you've already visited it. If you've already visited the node, then there's obviously a loop. If there's not a loop, you'll reach the end eventually. This isn't great because it's O(N) space complexity for storing the extra information.
The Tortoise/Hare solution. Start two pointers at the front of the list. The first pointer, the "Tortoise" moves forward one node each iteration. The other pointer, the "Hare" moves forward two nodes each iteration. If there's no loop, the hare and tortoise will both reach the end of the list. If there is a loop, the Hare will pass the Tortoise at some point and when that happens, you know there's a loop. This is O(1) space complexity and a pretty simple algorithm.
Use the algorithm to reverse a linked list. If the list has a loop, you'll end up back at the beginning of the list while trying to reverse it. If it doesn't have a loop, you'll finish reversing it and hit the end. This is O(1) space complexity, but a slightly uglier algorithm.
