$$ T(n) = T\left(\frac n2\right) + 2^n $$
where $n \ge 1$ and $T(1) = 1$. If I understand the substitution method and the induction, I can guess that $T(n) = O(2^n)$.
I must prove that $T(n) = O(2^n)$, meaning constants $c$ and $n_0$ exist such that $T(n) \le c2^n$ for all $n \ge n_0$.
Base case
When $n = 1$ then $T(1) = 1$, choosing $c \ge \frac 12$ the inequality is satisfied:
$$ \\ 1 \le c2\\ $$
Inductive step
Hypothesis is that $T(k) = O(2^k)$ for all $k \lt n$ (hence $T\left(\frac n2\right) \le c2^{\frac n2}$). Then I show that is true for $n$:
$$ \begin{align} T(n) &= T\left(\frac n2\right) + 2^n = c2^{\frac n2} + 2^n = (c2^{\frac 12} + 1)2^n \\ &= (c\sqrt 2 +1)2^n \le c2^n \end{align} $$
So I ended up with $c \ge c\sqrt 2 +1$ that has no solution! I know that $T(n) = \Theta(2^n)$, so I'm wrong and I'd like to understand why.
It's just a minor mistake. The RHS of the line $$ T(n) = T\left(\frac n2\right) + 2^n = c2^{\frac n2} + 2^n = \color{red}{(c2^{\frac 12} + 1)2^n} $$ is wrong. $c2^{\frac n2}\neq(c2^{\frac 12})2^n=c2^{n+\frac12}$. The correct simplification is $c2^{\frac n2} + 2^n=\color{green}{2^{n/2}(c+2^{n/2})}$. You want this to be $\le 2^nc$. Therefore you need $c+2^{n/2}\le2^{n/2}c$ for all $n>1$. So you may pick $c=2$.