Question:
Let $V$ be an inner product space and $v,w\in V$. Prove that $\lvert\langle v,w\rangle\rvert=\lVert v\rVert \lVert w\rVert$ if and only if one of the vectors $v$ or $w$ is a multiple of the other.
Attempt:
Assume the identity holds and $y\neq 0$. Let $$ a=\frac{\langle x,y\rangle }{\lVert y \rVert^2}, $$ and let $$ z=x-ay. $$ Now, note that $y$ and $z$ are orthogonal because if $z=x-ay$, then by the definition of $a$ we have $$a=\frac{\langle x,y\rangle }{\lVert y \rVert^2}=\frac{\langle z+ay, y\rangle }{\langle y,y\rangle }=\frac{\langle z,y\rangle }{\langle y,y\rangle }+a\frac{\langle y,y\rangle }{\langle y,y\rangle }=\frac{\langle z,y\rangle }{\langle y,y\rangle }+a,$$ which means that $$ \frac{\langle z,y\rangle }{\langle y,y\rangle }=0~\text{or}~ \langle z,y\rangle =0,$$ namely $y$ and $z$ are orthogonal. Furthermore, since $\lvert \langle x, y \rangle \rvert= \lVert x \rVert \lVert y \rVert$, then $$ \frac{\lvert \langle x, y \rangle \rvert}{\lVert y \rVert} =\lVert x \rVert ~\overset{1/\lVert y \rVert}{\implies}~\frac{\lvert \langle x, y \rangle \rvert}{\lVert y \rVert^2} =\frac{\lVert x \rVert}{\lVert y \rVert} =\lvert a \rvert.$$
Lemma: Let $V$ be an inner product space, and suppose that $x$ and $y$ are orthogonal vectors in $V$. Then $\lVert x+y \rVert^2 = \lVert x \rVert^2 + \lVert y \rVert^2$.
Now, we know that $$ \lVert x \rVert^2 = \lVert ay+z \rVert^2,$$ but, by the lemma, this means that $$ \lVert ay+z \rVert^2 = \lVert ay \rVert^2 + \lVert z \rVert^2~~\overset{\text{not sure where to go}}{\dots}$$
Note:
I'm trying to follow along with Friedberg's description on pages 337 and 338 in his Linear Algebra:

EDIT$^1$:
OK, so I think I've got an idea. To complete the proof I need to notice that $\frac{\lVert x \rVert}{\lVert y \rVert} =\lvert a \rvert$, which means that $\lVert x \rVert = \lvert a \rvert\lVert y \rVert$ and more importantly that $\lVert x \rVert^2 = \lvert a \rvert^2\lVert y \rVert^2,$ but this is exactly the $\lVert ay\rVert^2$ from the application of the lemma as $\lVert ay\rVert^2=(\lVert ay\rVert)^2=(\lvert a\rvert\lVert y\rVert)^2=\lvert a\rvert^2\lVert y\rVert^2$. This will give the result.
CONCLUSION:
Here is my end proof:

EDIT$^2$:
I found here in E. B. Vinberg's A Course in Linear Algebra a different flavor of this proof (if anybody happens to care):

Notice that: $$ \begin{align*} \lVert x \rVert^2 &= \lVert ay+z \rVert^2 \\ \lVert x \rVert^2 &= \lVert ay \rVert^2 + \lVert z \rVert^2 \\ \lVert x \rVert^2 &= (|a|\lVert y \rVert)^2 + \lVert z \rVert^2 \\ \lVert x \rVert^2 &= \left( \dfrac{\lVert x\rVert}{\lVert y\rVert}\lVert y \rVert \right)^2 + \lVert z \rVert^2 \\ \lVert x \rVert^2 &= \lVert x \rVert^2 + \lVert z \rVert^2 \\ 0 &= \lVert z \rVert^2 \\ \lVert z \rVert &= 0 \\ z &= 0 \qquad \text{ (the zero vector)} \end{align*} $$
Thus, we have $0=z=x-ay \iff x=ay$ so that $x$ and $y$ are scalar multiples of each other, as desired.
It remains to prove the converse. Suppose $x=ay$ for some scalar $a$. Then we have: $$\lvert\langle x,y\rangle\rvert =\lvert\langle ay,y\rangle\rvert =\lvert a\langle y,y\rangle\rvert =\lvert a \left( \lVert y\rVert \lVert y\rVert \right) \rvert =\lvert a \rvert \left( \lVert y\rVert \lVert y\rVert \right) =\lVert ay\rVert \lVert y\rVert =\lVert x\rVert \lVert y\rVert$$ as desired.