VHS means Video Home System. This system uses a videocassette tape to record video and sound, which can be watched on a television. A DVD/VHS combo can record(write) on VHS tapes, read off VHS tapes, and additionally, read from DVD discs. A few can also record on DVD.
This system was created in 1976 by the Victor Company of Japan (also called JVC). VHS was a very popular way for people to record and play video at home in the 1980s and 1990s, but now DVD (Digital Versatile Disc) and VCD have become more popular as they can be easier to use, and the discs are cheaper to make.