We compute and analyze correlation functions in the isovector vector channel at vanishing spatial momentum across the deconfinement phase transition in lattice QCD. The simulations are carried out at temperatures $T/T_c=0.156, 0.8, 1.0, 1.25$ and $1.67$ with $T_csimeq203$MeV for two flavors of Wilson-Clover fermions with a zero-temperature pion mass of $simeq270$MeV. Exploiting exact sum rules and applying a phenomenologically motivated ansatz allows us to determine the spectral function $rho(omega,T)$ via a fit to the lattice correlation function data. From these results we estimate the electrical conductivity across the deconfinement phase transition via a Kubo formula and find evidence for the dissociation of the $rho$ meson by resolving its spectral weight at the available temperatures. We also apply the Backus-Gilbert method as a model-independent approach to this problem. At any given frequency, it yields a local weighted average of the true spectral function. We use this method to compare kinetic theory predictions and previously published phenomenological spectral functions to our lattice study.