Rooting an Android device gives the user administrative access and control over the operating system. It allows users to overclock processors, install custom ROMs for newer versions of Android, remove pre-installed apps, and run apps that require root access. However, rooting also carries risks like voiding the device warranty and potentially "bricking" the phone if not done correctly by following the instructions carefully. Common methods for rooting involve using apps like Kingo Root or flashing the device recovery with a root file. Rooting can benefit users but also be used maliciously, so caution is advised.