How to tag a workflow/Action

Hi There,

I wanted to understand what is tagging and how it works.

I have seen some examples online and in the Vro Library>tagging>...

Q1. When running Tag workflow from Library>> tagging>> Tag workflow >> I can see the Tag text field, so what was tag meant for? and what was the value meant for?

Q2. Is it possible to tag for the specific folder?

Please suggest me easiest way to tag workflows/actions and retrieve with tag names.

Thank you in advance.

--Laxmi