The technical answer

Binaural beats are auditory brainstem responses which originate in the superior olivary nucleus of each hemisphere. They result from the interaction of two different auditory impulses, originating in opposite ears, below 1000 Hz and which differ in frequency between one and 30 Hz (Oster, 1973).

For example, if a pure tone of 400 Hz is presented to the right ear and a pure tone of 410 Hz is presented simultaneously to the left ear, an amplitude modulated standing wave of 10 Hz, the difference between the two tones, is experienced as the two wave forms mesh in and out of phase within the superior olivary nuclei. This binaural beat is not heard in the ordinary sense of the word (the human range of hearing is from 20-20,000 Hz). It is perceived as an auditory beat and theoretically can be used to entrain specific neural rhythms through the frequency-following response (FFR)--the tendency for cortical potentials to entrain to or resonate at the frequency of an external stimulus. Thus, it is theoretically possible to utilize a specific binaural-beat frequency as a consciousness management technique to entrain a specific cortical rhythm. So this could help with Anxiety and Stress Reduction for example >>

Or to put it another way:

Binaural beats are auditory brain stem responses which originate in the superior olivary nucleus of each brain hemisphere. They result from two different auditory impulses or sounds, heard from opposite ears. This binaural beat is consciously heard as the human hearing range is from 20-20,000 Hz. Rather it is perceived as an auditory beat and theoretically is being used coach certain brain rhythms from what is called the frequency-following response (the tendency for the brain to resonate at the frequency of an external stimulus). So if you had some problems getting off to sleep you could use this Sleep Induction >>

Still confused?

In a 'nutshell' using Binaural Beats you get: Rapid, Long-lasting benefits

Using brainwave stimulation and dynamic psychological techniques, Binaural Beats enables you to rapidly achieve profound and long lasting results.

Brainwave stimulation increases cerebral blood flow, the production of neurotransmitters, the growth of dendrites, and more. In other words, when you use Binaural Beats your brain is being trained and encouraged to build connections and neural structures to support your goals. Binaural Beats can even be used to help you when you study, keeping you mind focused on your study >>