Code Snippets are small chunks of commonly used source code that you can insert into your source files. For example, you can use a snippet to insert a "for" or "while" loop. Snippets are intended for boiler plate text.
The Snippets panel contains all your code snippets and helps to organize them. The Snippets panel lets you create, edit, delete, and insert code snippets. You can also import and export snippets.
Snippets can also be programming language-specific, or common to all languages, or common to certain sets of languages. For example, you can have a snippet for C/C++ and another with the same name just for Java. See: Snippet Window.