From Xojo Documentation
Used to display text that the user cannot select or edit. Label controls are commonly used to label other controls (like Popup Menus or Text Fields) or provide titles for groups of controls. The text of the label can be controlled via code (using the Text property of the control), so you can use it to display dynamic text that is read-only.
AcceleratorKey - This event is called when the Accelerator Key is pressed on Windows. Specify an Accelerator Key by prefixing a character in the Text property with an ampersand (“&”).
Value - Used to get or set the value that is displayed in the Label.
The Label can be used to display prompts that do not change, but you can also update the text yourself. This code changes a Label to show what a user entered in a TextField: