Can someone please explain Trackbacks to me?

I think i understand the basic idea, but im still an idiot when these place use real technical terms. Id just like to know what they are and if they can be beneficial.
Also, when im about to post a blog (wordpress) it asks
"Send Trackbacks to -------- (seperate multiple urls w/ spaces)"
what does that mean and what urls do i give it?

thanks in advance

bump, anyone???

trackback is if you write about someone elses blog post, a blurb from your entry and a link to your post about his post will appear in the comments. hmmm was that clear?

Trackback is really important as far as blogging is concerned. Its somewhat similar to the reputations given in this forum. It plays a key role in calculation of your blog value as well as technorati and other rankings too. Blogs that includes a link in a post must support trackback.

Please have a look at http://en.wikipedia.org/wiki/Trackback

Thanks

A trackback is one of three types of linkbacks, methods for Web authors to request notification when somebody links to one of their documents. This enables authors to keep track of who is linking, and so referring, to their articles. Some weblog software programs, such as Wordpress, CuteNewsRU, Movable Type, Typo,Community Server and Kentico CMS, support automatic pingbacks where all the links in a published article can be pinged when the article is published. The term is used colloquially for any kind of linkback.
a similar protocol but more prone to spam.
basically a kind of backlink