Let's say your domain record for nowhere.net has these two entries:
@ IN A 78.90.12.34
* IN CNAME nowhere.net.
The @ sign in a record means the domain itself with no host, i.e. nowhere.net. This would allow someone to put http://nowhere.net in their browser and resolve to 78.90.12.34.
The * sign in a record is a wildcard for any hostname. You could enter www.nowhere.net, ftp.nowhere.net, mail.nowhere.net, yo-mama.nowhere.net, etc. and they would all resolve to the IP specified for the domain. You wouldn't have to set each one up with a separate record.