The Date field is great for when you want users to easily enter a date. You have the option can determine the range in which the date should selected from, or it can be up to the user to select any date.
You can change the text and background colors on the field's title. This is can help draw users attention to it or distinguish it from other fields.
You can also an description of your field to help explain what it is and what information should be captured in it. If a description is added users will be able to view it by hover over the (i) Icon next to the field.
By default when a new fields is created it will be mandatory for users to complete. However you can make any field an optional field if that piece of information is not always required.
There is an option to select a default value for your Date this could be the most common answer or the preferred selection.