Traditional load balancing with multiple search heads will work for search queries. You would need to make sure the session is "sticky". However, if you want to retain your user preferences between search heads there are some known limitations. A Splunk technical person should be directly consulted if you decide to go down this road. Items such as saved searches and reports, require synchronization between the search heads.
Load balancing a network input for most use cases should work fine. This would include syslog or similar input.
Using a Splunk Forwarder to load balance between indexers is preferred. Advantages include access to metrics, queueing of data, and input tracking.
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