WordPress Bookmarklet

I’m a newbie (like 3 hours into this). I have installed Wordpad and chose a theme and it is up and running.

What is a WordPress Bookmarklet for? Thinking it was a way for people to poast a reply, I have tried to follow directions to “drag the following link to your link bars” or “add it to your bookmarks”. What does that mean? I have tried to do both (the actual link and also the link code) but nothing enables me to drag it to the window where the bookmarks are (I opened up another window with my blog open). I think this code needs to be added to a document.

I have searched on Bookmarklet, but the questions I see relate to after it is installed/turned on. Your help in advance is appreciated.