Point
Key P. Places a node — a point that draws nothing but takes part in constraints.

What it is for
A point is an anchor. It never becomes material, but things refer to it:
- the centre of a future hole: dimensions go to the point, and the hole is made from it (the Hole command can lay out holes straight from sketch points);
- the centre of a circular array or an axis of symmetry;
- where a vertex has to land in an assembly joint;
- a node several dimensions hold on to at once — then one number is edited instead of five.
A point takes constraints too
It can be made coincident with another point, put on a line (point on line) or on a circle, or made the midpoint of a segment. Each of these removes degrees of freedom, so points are a convenient way to pin a sketch to geometry that already exists.
A point has degrees of freedom too
A free point adds two: it can move in X and Y. Until it is pinned by dimensions or constraints, everything resting on it moves with it. That is a common cause of “the part fell apart after an edit”: an undefined point beneath the feature.
Construction point
The X key turns a point into construction geometry: it stays visible in the sketch but takes no part in the outlines and never affects the body profile.