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Info.plist is embedded in your application package and controls a number of things about your application. The display name shown in the springboard is listed here, as well as the bundle identifier which uniquely identifies the application. For more detailed information, see: Apple's documentation on Info.plist.
The display name (CFBundleDisplayName) is the one that will be displayed under the icon, in dialog titles, and the settings menu.
The bundle name (CFBundleName) is a short name for the bundle. It should be less than 16 characters long, so it can typically be the same as the display name.
The CFBundleIdentifier identifies the application bundle. It should only contain characters in the following sets: alphanumeric (A-Z, a-z, 0-9), hyphen (-), and period (.). If the mobile provision you created in the iOS Provisioning Portal uses an explicit bundle identifier, it must match what you enter here (anything can be used if your profile is a wildcard).
If you need to modify or add a key to Info.plist that isn't exposed by this dialog, the overrides file can be edited by hand. It is a UTF-8 encoded XML document. Any keys in this file will override existing settings, so do not add a key to this file unless you know you need to modify it and understand the risks.