Cookies are a special type of file put on your computer from a web page you visit.  They are useful, but they can also be quite invasive.  See About Web Bugs, Cookies & Secret Data for more information about Cookies.
 

The Privacy Control Panel displays all cookies set on your computer.

In order to display individual cookies and their contents double-click on the hostname (e.g. item 2 above, called "weather.com" in the screenshot above).  You can also double-click the cookie name (one is called "locID" in the example above).  

• Value is a webserver-defined value that often contains the username. 

• Creation time is the time when the cookie was set.

• Expiration time is when this cookies expires. In order to prevent expiration and to track customers indefinitely, many cookies are set to expire in 10-20 years !

Some sites set more than one cookie; a number shown in square brackets after the cookie name shows how many cookies were set from this site.

Note that you can right-click in the cookie window to display a 'context menu' which can assist in selecting large groups of cookies.
 

Guard-IE is unique in that it allows you to specify a Cookie White List (i.e. cookies to keep).  Most other cookie managers simply allow you to delete all cookies and that is usually not a good idea as some cookies are desired.

The large white window in the Privacy Control Panel displays "hostnames" (also called "web sites") which have placed cookies on your computer.  Checking the boxes to the left of the hostname tells Guard-IE that cookies from that hostname are to be saved and NOT removed.  
 

Unchecked hostnames are considered unwanted and those hostname/cookies will be removed when Guard-IE removes unwanted cookies.
 

If you have checked "Unwanted Cookies" near the bottom of the Privacy Control Panel, these cookies will be removed once the last instance of Internet Explorer is closed down.

You can also press the red circles to the right of the text to immediately remove "unwanted cookies."