Torrents provide a different means for p-p filesharing. The files may be audio, video, text/data, applications, etc. They are usually accessed in the same manner one would use to access any file. (Some torrents are archived in .rar format.)

Torrent downloading is not complicated. Limewire can handle torrents, but does so inefficiently. I recommend uTorrent or Vuze to download torrents (both programs are free).

More info here: Beginners Guide [Re: Firewall - You don't need to establish a static IP or do port forwarding to dl torrents, but you should consider it if you want to max dl speed].