Pointers in C allow programs to store and manipulate memory addresses. The document explains that pointers store the address of another variable in memory and use dereferencing operators like * to access the value at that address. It demonstrates how to declare and assign pointers, pass pointers to functions, and use pointer arithmetic to traverse arrays. Key concepts covered include address-of & and dereference * operators, double pointers, and how modifying a pointer or value it points to changes the referenced memory location.