What does it for? In the past, a phone is more of a device used to make calls or text. However, it's much more than that.
Most Android devices are now defaulted with a fairly simple Recovery mode with features like Reboot System Now, Apply Update from ADB, Apply Update from External Storage, Wipe Data/Factory Reset, Wipe Cache Partition, Apply Update from Cache.
Just like a lot of other things with Android, even the Recovery Mode can be customized to do more things.
1. Start from turning off your device by holding down power button.
2. Wait 10 seconds and press and hold power button with volume down button together.
3. When the screen will show LG logo, you can let go off the buttons.
4. After few seconds your phone will boot into recovery mode, congratulations.
Recovery, in Android, refers to the bootable partition, in which the recovery console is installed.
It contains tools to help repair your installations as well as install official OS updates by using a combination of key presses or instructions from a command line sometimes.
Android is open, meaning the recovery source code is available, so that building a customized ROM is relatively easy.