Creating a dictionary with a list of keys and values in Python is a relatively simple task. In Python, a dictionary is a built-in data structure that is used to store key-value pairs. The keys must be unique and immutable, while the values can be of any type.

1. First, you will need to create two lists, one for the keys and one for the values. The lists should have the same number of elements, with the corresponding key and value at the same index.

keys = ["apple", "banana", "cherry"]
values = [1, 2, 3]

2. Next, you can use the zip() function to combine the two lists into a list of tuples, where each tuple contains a key-value pair.

pairs = list(zip(keys, values))

3. Now you can use the dict() constructor to create a dictionary from the list of tuples.

my_dict = dict(pairs)

4. Alternatively, you can also use a dictionary comprehension to create a dictionary from the two lists. This is a more compact and efficient way to create a dictionary.

my_dict = {key: value for key, value in zip(keys, values)}

5. You can also use the dict.fromkeys method to create a dictionary from a list of keys and a value.

my_dict = dict.fromkeys(keys, 1)

It is important to note that the above examples create a dictionary with the keys in the order they appear in the list, However, dictionaries in python are unordered data structures, so the order of the keys may not be preserved, if you need the order to be preserved you can use a collections.OrderedDict.

In conclusion, creating a dictionary with a list of keys and values in Python is a straightforward task that can be accomplished using the built-in zip() function, dict() constructor, dictionary comprehension or dict.fromkeys method. With this basic understanding, you can now use dictionaries to efficiently store and retrieve data in your Python programs.