+, and {X,Y} are quantifiers. meaning 0 or more, + meaning 1 or more and {X,Y} meaning at least X and at most Y occurances.
For example, given this string:
Abbott and Costello Meet Dr. Jekyll and Mr. Hyde
Looking for say "Abb" you could either look for abb or a(b)+ or a(b){2}. Each is perfectly acceptable; however, each has it's advantages and disadvantages.
The first would only match those that contain Abb exactly (no more or less). The third would do the same; however, there is some lee-way because you can define how many "b"s you want. By not passing a second parameter, you're saying I only want an "a" followed by 2 "b"s. The second one would match Abb as well as Abbbbbbbbbbbbb.
You can take these rules and then apply them to some more intricate things like IP address:
^[\d]{1,3}\.[\d]{1,3}\.[\d]{1,3}\.[\d]{1,3}$
-- OR --
^([\d]{1,3}){4}$
Or for email addresses:
^[a-z0-9]+[a-z0-9_.-]*@[a-z0-9]+\.[a-z0-9]{2,4}(\.[a-z0-9]{2,4})?
So with the quantifiers you can really leverage the regex to match (or not match) exactly what you're looking for.
For more information, you can look at www.regular-expressions.info for some good information. You can really do some intersting stuff with positive & negative look ahead/behinds and conditional expressions.