An index in MS Access is a data structure related to the contents of a table. You pick a field in the table and build an index on that field. Later, when you run something like a query that is based on sorting the indexed field, the index helps you do that action.
The index can be in ascending or descending order. The filed can be any data type that can be sorted reasonably. An index can span more than one field (but the fields must be in the same table).
Sometimes an index can be used to create what is called a constraint. For instance, you can define an index to be unique by defining it to allow No Dups (no duplicates). This is a constraint that says each value of the field must different from any other value for that field in the same table. Access enforces the constraint if you define the index in that particular way.