Please check below post for list of sandbox with detail
1) http://amitsalesforce.blogspot.in/2015/03/type-of-sandbox-in-salesforce.html

Developer Sandbox
REFRESH LIMIT    :-  Daily
DATA LIMIT          :-  200MB

Developer Pro Sandbox
REFRESH LIMIT    :-  Daily
DATA LIMIT          :-  1GB

Partial Copy
REFRESH LIMIT    :-  5 Days
DATA LIMIT          :-  5GB

Full Sandbox
REFRESH LIMIT    :-  29 Days
DATA LIMIT          :-  Same as Production

Why Refresh is required:-
NOTE:- To Sync the Sandbox code and configuration with production we need to refresh the sandbox.

Please check below post. I hope that will help you
http://sfdcmaniac.blogspot.in/2013/09/creating-or-refreshing-sandbox-from.html
https://help.salesforce.com/apex/HTViewHelpDoc?id=data_sandbox_manage.htm
https://help.salesforce.com/apex/HTViewHelpDoc?id=data_sandbox_create.htm

 Creating SandBox:
 
  step1. Setup-------->Datamanagement---------->sandbox------> New SandBox.
  step2. Enter a name and description for the sandbox.we can only change the
             name when we create or refresh a sandbox.Sandbox name should Reflect
            the purpose of this sandbox, such as “QA.”(its best Practise).

  step3. Choose type of sandbox to create.
              if it is Partial data Sandbox you need to select Sandbox Template.
  step4. Create.
 
The process may take several minutes, hours, or even days, depending on the size and type of your organization.The first time you create a sandbox, Salesforce activates the sandbox for you.
 
Refresing Sandbox :
  
Setup-------->Datamanagement---------->sandbox

  You’ll see a list of your sandboxes. Sandboxes that you can refresh have a Refresh link next to the sandbox name.
      Edit | Del | Refresh | Login  Sandboxname    Status(inUse)  

                      On clicking refresh button Salesforce starts copying data to the sandbox(If it is Full sand box)  status turns to Copying.After Salesforce finishes copying data to the sandbox,inProgress turns into Activate button.
                                          
    Action                                 Sandboxname          Status

   Edit                                        test                            Copying
   Edit |  Activate |Discard         test                       Replacement ready

              you  need to activate the sandbox before you can use the refreshed data. Salesforce sends you an email when your sandbox is ready to activate. Activating a replacement sandbox that was created using the Refresh link  completely deletes the sandbox it is refreshing. All configuration and data in the prior sandbox copy will be lost, including any application or data changes you have made and there is no way to recover them back.Once Your production organization and its data will not be affected.

 **     Refresh button will be enabled depends the sandbox you refreshed and their limits as mentioned above.
   ex: for full sand box it takes 29 days to enable refresh button.

 **   you can also see the created or refreshed history of sandbox by clicking  history tab on
     sandbox page.

  After Activation of sandbox :
 
** You will receive a notification email when your newly created or refreshed sandbox has completed copying.

** login URL for Sandbox is https://test.salesforce.com by appending .sandbox_name to their Salesforce usernames.

     Example: username for a production organization is  test@companyname.com,
                      the sandbox is named “test”,
                      new sandbox  user name is test@companyname.com.test.

**   Salesforce automatically changes sandbox usernames, but not passwords.
      you need to use Production password to login sandbox.

**  Newly created sandboxes have the default email deliverability setting System email only.
     The System email only setting is especially useful for controlling email sent from sandboxes
     so that testing and development work doesn’t send test emails to your users

Please let us know if this will help you