Can a person really be hypnotized? If so how is that done and can everyone be hypnotized?

I've seen 3 or 4 hypnotists in total in my life from school events. I've always been skeptical about people being put in a trance and made obedient to every command. While I think the usual performances are most likely staged (I remember one time a fellow student "victim" slipped in on the act and performed his igned action without all the requirements) I also think there is some truth to it. I'm sure you or others reading can relate with their own personal experience, but haven't you been "lost in thought" before? It happens when you are thinking intently or thinking about too many things at once, you suddenly forget about your surroundings. This is especially interesting if your body is currently doing something. The action has to be something your body and mind is used to performing or something that is monotonous or repeated. It could be job related like embling a product or it could even be something as simple as walking home. I can recall times I've arrived home from school not remembering anything at all, not even when I've stopped for the intersection. These are just experiences but I'm sure you can find something factual, research "the subconscious mind" or something akin to that if your interested.