If your project includes any text this is a good spot to be in. 

1. To activate the fonts you can click on the “T”. 

2. You can write either vertically or horizontally. However, it is more common to write horizontal 

3. At the top is where you can choose the font from a drop-down

4. Change the position - left, center , right 

5. The colour of the text 

6. The size of the text. Photoshop uses points for sizing 

7. The font-weight, you can choose regular, bold, light, etc from the drop-down

8. If you want to make it curved you can click the “T” above a curve icon