Labels are nothing but folders where you can store messages of different significances. For example you want to keep all mails received from your mother in one place. You can create a label and name it emails from mother. Similarly, you can store mails received from your bank at one place so that you can access those mails readily whenever you want to. It is even better to combine labels with filters. This will track all your mails to the particular labels you want to save the mail in. For example you can create a filter which will send all mails received from your bank to the label you had created for the purpose. Get in touch with Gmail customer support for more solutions.