Find a function $f(x)$ such that:
$$f(x)f(1/x)=f(x)+f(1/x)$$
with $f(4)=65$.
I have tried to let $f(x)$ be a general polynomial: $$a_0+a_1x+a_2x^2+\ldots a_nx^n$$
which leaves $f(1/x)$ as:
$$a_0+a_1{1\over x}+a_2{1\over x^2}+\ldots + a_n{1\over x^n}$$
On comparing the coefficients of both sides, we see that:
$$2a_0=(a_0)^2+(a_1)^2+(a_2)^2+\ldots+(a_n)^2$$
And
$$a_1=(a_0a_1)+(a_1a_2)+ \ldots +(a_{n-1}a_n)$$
I don't know how to proceed further. I know I need to compare coefficients and come to a conclusion based on their values, but I don't see what to do next.
As other answers show, there is a large class of solutions to your functional equation if one does not restrict $f$ more. As per your request, we shall try the restriction that $f$ should be a polynomal.
Two polynomial solutions jump into our eyes, namely the zero polynomial $f(x)=0$ and $f(x)=2$. Neither of these has $f(4)=65$, though.
If $f$ is a polynomial of degree $n>0$, say $$f(x)=a_0+a_1x+\ldots +a_nx^n$$ with $a_n\ne 0$, then $\hat f(x) = x^nf(1/x)$ is also a polynomial, namely $$ \hat f(x)=x^nf(1/x)=a_n+a_{n-1}x+\ldots+a_0x^n.$$ Observe that $a_0$ could be $0$, so possibly $\deg\hat f<n$. The functional equation becomes after multiplication with $x^n$ $$ f(x)\hat f(x)=x^nf(x)+\hat f(x)$$ or $$\tag1 f(x)\cdot(\hat f(x)-x^n)=\hat f(x).$$ But if we multiply the degree $n$ polynomial $f(x)$ with the polynomial $\hat f(x)-x^n$ and obtain the polynomial $\hat f(x)$ that has degree $\le n$, we conclude that $\hat f(x)-x^n$ must be a constant. This implies that $a_0=1$ and $a_1=\ldots=a_{n-1}=0$, so $f(x)=a_nx^n+1$ and $(1)$ simplifies to $$ (a_nx^n+1)\cdot a_n = x^n+a_n$$ This allows only $a_n=\pm1$. To meet the constraint $f(4)=65$, we need $\pm 4^n=65-1$, so the positive sign and exponent $3$. We finally conclude that $${f(x)=x^3+1}. $$