After your register a domain name, you can buy hosting for it and create your personal website. Anyway, at the same time, you can just park the domain, so you won't need to create a website, order hosting for it, etc.

If you order a shared package from GlowHost for domain.com, you can park your other domains, like domain2.com and domain3.com to the original one - domain.com. This way they will forward all visitors from domain2 and domain3 to domain.com.

By Wiki: Domain parking is the registration of an internet domain name without that domain being associated with any services such as e-mail or a website. This may have been done with a view to reserving the domain name for future development, and to protect against the possibility of cybersquatting

There are two types of parking: commercial and non-commercial parking.

Commercial parking is when you point your domain to some other website getting profit from it.

Non-commerciall parking is when you point your domain to some other domain you own or use 3rd party services.