Another Host File question

   I read an old post, about a Host file questions, and decided to look at my Host file.  I found hundreds and hundreds of site addresses placed there by an old program.  These were put there to help protect my PC, so I guess they had some value.  I no longer use that old program, so are all these sites still being used?  The OP said something about Norton Security would remove all of these files and empty the Host file.

   What does the Host file really do and should all of these sites still be there?