The text box or "debug textbox" is where messages from the program are displayed. VIRC32 will show you information about when users connect, what servers they connect to and what actions they perform.

Each night at midnight, the text box will be reset.

If you double click on the text box, you will get a menu option to clear its contents.

VIRC32 provides you with various statistics you can monitor. The values are reset each time the program is loaded.