Most people know about "Miranda" rights, and even if you don't know them by name, you've probably heard about them on a TV show or in a movie. These rights are named after a 1966 Supreme Court case, which saw the justices rule that the police have to read you your Fifth Amendment right to not make self-incriminating statements when they accuse you of a crime. Based on the ruling, this right must be read to you before you are questioned by the police.
Miranda rights are more than just the right to not making self-incriminating statements, though. As stated, "you have the right to remain silent. Anything you say can and will be used against you in the court of law. You have the right to an attorney, and if you can't afford one, an attorney will be appointed for you."
All of these rights are vital, and you should never forget about them, trivialize them or think that they aren't important to you. They are the basis for many defense cases, because if the police violate any of these rights or if they botch fundamental portions of their investigation (and thus violate your rights), then the case against you can collapse.
It's also important to note that if the police fail to tell you about your rights before they question you, then any statement or answers that you provided when they questioned you is inadmissible. Your rights are integral to your defense in criminal cases, and you should always make sure you are aware of your rights and how they apply to you.