Jul 21st, 2013
The description at Drupal.org describes this module the best:
"This module creates separate "Edit account" and "Edit profile" tabs for each user, with custom user fields configured under "Edit profile."
The goal of the module is to make fields attached to users (a new feature introduced in Drupal 7 core) a reasonable option for building simple, clean user profiles. Instead of having all properties of the user account editable via a single "Edit" tab (as Drupal does by default), where custom user profile fields are mixed in with account settings such as username, password, and time zone, sites using this module get a clean separation between these two different concepts, and a nicer experience for their end users."