Q1:
Credentials mean username and password
Q2:
If you don't sign out the cookie will not be removed, so when the users visits the website again he doesn't need to type in his username and password.
Q3:
I'm not sure, but I think so, since it expires...
Q4:
IsPostBack property is false when you load a page for the first time. Now if you click on a button or anything the cause the page to postback to the server, IsPostBack is true. This is usually used to know that the action is a postback.
Q5:
Cookies are stored in the temporary internet files folder. You can change it, its some where in the internet options