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Two-dimensional collision analysis
In a two-dimensional collision, momentum conservation must be applied as a vector equation. If the net external impulse during the collision is negligible,
$$m_1\mathbf u_1+m_2\mathbf u_2 =m_1\mathbf v_1+m_2\mathbf v_2.$$
Choosing $x$- and $y$-axes turns this into two scalar equations:
$$m_1u_{1x}+m_2u_{2x}=m_1v_{1x}+m_2v_{2x},$$
$$m_1u_{1y}+m_2u_{2y}=m_1v_{1y}+m_2v_{2y}.$$
These equations express momentum conservation independently in each direction. They do not, by themselves, determine every possible final speed and direction; the collision type and geometry provide additional constraints.
Perfectly inelastic case
If the objects stick together, they share one final velocity $\mathbf v_f$:
$$\mathbf v_f=\frac{m_1\mathbf u_1+m_2\mathbf u_2}{m_1+m_2}.$$
The same formula works in any number of dimensions because momentum is a vector.
Elastic case
For an elastic collision, total kinetic energy supplies an additional scalar equation:
$$\frac12m_1u_1^2+\frac12m_2u_2^2 =\frac12m_1v_1^2+\frac12m_2v_2^2.$$
The momentum components and energy equation can then be combined with any known scattering angle, symmetry, or contact geometry.
Equal masses with one initially at rest
A particularly useful result occurs when two equal masses collide elastically and the second is initially at rest. Let the initial velocity be $\mathbf u$. Momentum conservation gives
$$\mathbf u=\mathbf v_1+\mathbf v_2,$$
and energy conservation gives
$$u^2=v_1^2+v_2^2.$$
Taking the squared magnitude of the momentum equation,
$$u^2=v_1^2+v_2^2+2\mathbf v_1\cdot\mathbf v_2.$$
Comparison with the energy equation gives
$$\mathbf v_1\cdot\mathbf v_2=0.$$
Therefore, unless one object stops completely, the two outgoing velocity vectors are perpendicular.
Numerical example
Suppose one equal-mass ball approaches at $5,\mathrm{m/s}$ along the $x$-axis. After an elastic collision, the first ball moves at $3,\mathrm{m/s}$ with components
$$\mathbf v_1=(1.8,,2.4),\mathrm{m/s}.$$
Momentum conservation requires
$$\mathbf v_2=(5,0)-\mathbf v_1=(3.2,-2.4),\mathrm{m/s},$$
whose speed is $4,\mathrm{m/s}$. The kinetic-energy condition is satisfied because
$$5^2=3^2+4^2,$$
and
$$\mathbf v_1\cdot\mathbf v_2=(1.8)(3.2)+(2.4)(-2.4)=0.$$
The two final directions are therefore at right angles. The result is not a special rule to memorize; it follows from vector momentum conservation plus kinetic-energy conservation.