Registry Keys
Registry keys contain pointers and configuration settings. Pointers point to programs and files and other keys. They may point to a specific action within a file. Some specific action is initiated when the key is called. Configuration settings tell programs just how to execute the action.
Opening a file from within Windows Explorer is a good example of how a string of events is launched when some action is invoked. "File Types" under "Tools" > "Folder Options" gives a human view of what's involved in this example.
Here's the tricky part for the dabbler: You have to know what action "handles" exist in the *.exe and *.dll files before you can add a key to the Registry to invoke that action. :-)