cPanel is a web based control panel tool which will help you manage your web hosting account through a web interface instead of a console. With cPanel you are able to accomplish many tasks.
You can use Cpanel for basic, everyday tasks like managing your email. Tasks like creating email accounts, resetting passwords, setting up mail forwarders are only some of the several tasks you can do trough Cpanel. You will have access to statistics about your website and usage. It's the tool to fully manage your storage space as you want. Your are not obliged to select a Cpanel Access to run your website so if you are tight with your budget you can request for this option later.