The refresh button is just a way to reload or update the information on your webpage again. You usually see it near the url area of your browser. Depending on the browser, it will be positioned slightly differently.
Refreshing clears the cache memory stored on your computer, which then brings you to the latest version of the webpage.
Cache is when your computer takes information from a site, downloads it and store them locally in your computer's hard drive. Hence, when you vist a page twice, the computer loads it faster as it loads the page directly from its local cache.