How to handle the threshold limit when working with large lists

Let us see how to work with large lists. we know that SharePoint list threshold limit is 5000. This means when we are querying against list, list threshold limits to access maximum 5000 items through view/Query. But the list can hold  as much as 30,000,000 items but we can't access more than 5000 items at once by view or query. 
But i got a scenario to display all the items based upon the condition, even the query or view returns more than 5000 items.

To handle this scenario i goggled finally i got the pros and cons of different solutions and why this limitation is present.

SharePoint Provides an API to access large lists using ContentIterator. 

Please find the below links for more information.

http://ranaictiu-technicalblog.blogspot.in/2014/06/sharepoint-access-large-list.html

http://msdn.microsoft.com/en-us/library/ff798376.aspx 

http://www.abelsolutions.com/2013-blog/working-with-list-view-thresholds-in-sharepoint/

http://charliedigital.com/2013/09/06/sharepoint-large-lists-content-iterator-and-an-alternative/