Adding and using a featured image on your WordPress pages or posts is the easy part, but, depending on your theme, most times the alt/ title attributes are missing.
Add this little snippet to your functions.php to pull them in.
function pands_add_img_title( $attr, $attachment = null ) {
$img_title = trim( strip_tags( $attachment->post_title ) );
$attr['alt'] = $img_title;
$attr['title'] = $img_title;
return $attr;
}
add_filter( 'wp_get_attachment_image_attributes','pands_add_img_title', 10, 2 );
If you prefer the attribute to be taken from the actual post title (instead of the media library settings), then change line 5 and 6 to this:
$attr['alt'] = the_title_attribute( 'echo=0' );
$attr['title'] = the_title_attribute( 'echo=0' );