Population vs sample standard deviation
Population standard deviation divides by N. Sample standard deviation divides by n - 1 because sample data usually underestimates the spread of the full population.
Why divide by n - 1?
Bessel's correction adjusts for the fact that a sample mean is estimated from the same data, giving a less biased estimate of population variance.
What does standard deviation tell you?
A small standard deviation means values cluster near the mean. A large standard deviation means values are more spread out.
Standard deviation vs variance
Variance is the average squared deviation. Standard deviation is the square root of variance, so it is expressed in the same units as the original data.