The current pages tab lists all of the custom pages that are active on your site. This list does not include any pages from the blog, forum, shop or gallery if you have purchased any of them.
Click on the name of a page and you can then choose to edit or delete that page. If you choose to delete a page, it will remove it from the site but you can still access it from the "Deleted Pages" tab should you decide you want to restore it at a later date.
There is also an option in this tab to Add a new page to the site.