Neoprene acts like a sponge and will quickly start to stink without proper care. However, never put them in the washing machine or tumble dryer! Hot water and the spin cycle will destroy the material's elasticity, causing the neoprene to crack. Soak the sleeves in lukewarm water with a bit of antibacterial soap, gently hand wash them, and let them air dry naturally in a well-ventilated area (definitely not on a hot radiator).
If you don't have a chronic injury and are using sleeves purely for prevention (or performance enhancement), do not wear them continuously. If you keep them on for every light warm-up set, your small stabilizing muscles and ligaments around the joint will become lazy and weaken. Only pull your sleeves up (or wrap your joints) for your heaviest working sets.
For 95% of gym-goers, a pull-on sleeve is by far the better choice. It provides constant compression and protects/warms the joint throughout the entire workout. Wraps are stiff, heavily elasticed strips of fabric (often up to 2 meters long) designed strictly for powerlifters attempting extreme one-rep maxes. They are wrapped so tightly that they nearly cut off circulation and must be loosened immediately after a heavy set.
Neoprene sleeves are thicker, extremely good at retaining heat, and provide strong stabilization. They are the absolute favorite for heavy strength training (squats, heavy presses). Elastic (fabric) braces, on the other hand, are much thinner, far more breathable, and wick sweat away effectively. They are perfect for dynamic sports like running, tennis, or team sports where you need mild support but don't want to "boil" inside neoprene.
This is a very common misconception. A brace or sleeve does not cure an injury; it only mitigates the symptoms. It is designed to stabilize and warm the joint, reducing pain during movement. Thanks to the compression and heat, more blood flows into the joint, which aids recovery. However, if you have structural damage (e.g., a torn meniscus or severe tendonitis), a sleeve won't fix it—you need a doctor and proper rest.