The following information is available:
- Web Site - the web site to which the web application belongs.
- Virtual Path - the web application's virtual path within its parent web site.
- Physical Path - the web application's physical path.
You can navigate to the selected web application from the list by double-clicking it or by pressing the F8 key or by selecting the "Go To Web Application" context-menu option.
You can move a web application in or out of an application pool by editing it in Application Pool Association.
You can read more about application pools in this article.