If you declare a variable, its name is a direct reference to its value. If you have a pointer to a variable, or any other object in memory, you have an indirect reference to its value. If p is a pointer, the value of p is the address of the object. *p means "apply the indirection operator to p"; its value is the value of the object that ppoints to. (Some people would read it as "Go indirect on p.")
*p is an lvalue; like a variable, it can go on the left side of an assignment operator, to change the value. If p is a pointer to a constant, *p is not a modifiable lvalue; it can't go on the left side of an assignment.
Consider the following program. It shows that when p points to i, *p can appear wherever i can.
#include
int main()
{
int i;
int *p;
i = 5;
p = & i; /* now *p == i */
printf("i=%d, p=%P, *p=%d\n", i, p, *p);
*p = 6; /* same as i = 6 */
printf("i=%d, p=%P, *p=%d\n", i, p, *p);
return 0;
}
After p points to i (p = &i), you can print i or *p and get the same thing. You can even assign to *p, and the result is the same as if you had assigned to i.

The answer depends on what you mean by "levels of pointers." If you mean "How many levels of indirection can you have in a single declaration?" the answer is "At least 12."
int i = 0;
int *ip01 = & i;
int **ip02 = & ip01;
int ***ip03 = & ip02;
int ****ip04 = & ip03;
int *****ip05 = & ip04;
int ******ip06 = & ip05;
int *******ip07 = & ip06;
int ********ip08 = & ip07;
int *********ip09 = & ip08;
int **********ip10 = & ip09;
int ***********ip11 = & ip10;
int ************ip12 = & ip11;
************ip12 = 1; /* i = 1 */
If you mean "How many levels of pointer can you use before the program gets hard to read," that's a matter of taste, but there is a limit. Having two levels of indirection (a pointer to a pointer to something) is common. Any more than that gets a bit harder to think about easily; don't do it unless the alternative would be worse.
If you mean "How many levels of pointer indirection can you have at runtime," there's no limit. This point is particularly important for circular lists, in which each node points to the next. Your program can follow the pointers forever.
Consider the following program "A circular list that uses infinite indirection".
/* Would run forever if you didn't limit it to MAX */
#include
struct circ_list
{
char value[ 3 ]; /* e.g., "st" (incl '\0') */
struct circ_list *next;
};
struct circ_list suffixes[] = {
"th", & suffixes[ 1 ], /* 0th */
"st", & suffixes[ 2 ], /* 1st */
"nd", & suffixes[ 3 ], /* 2nd */
"rd", & suffixes[ 4 ], /* 3rd */
"th", & suffixes[ 5 ], /* 4th */
"th", & suffixes[ 6 ], /* 5th */
"th", & suffixes[ 7 ], /* 6th */
"th", & suffixes[ 8 ], /* 7th */
"th", & suffixes[ 9 ], /* 8th */
"th", & suffixes[ 0 ], /* 9th */
};
#define MAX 20
int main()
{
int i = 0;
struct circ_list *p = suffixes;
while (i <= MAX)
{
printf( "%d%s\n", i, p->value );
++i;
p = p->next;
}
return 0;
}
Each element in suffixes has one suffix (two characters plus the terminating NUL character) and a pointer to the next element. next is a pointer to something that has a pointer, to something that has a pointer, ad infinitum.
The example is dumb because the number of elements in suffixes is fixed. It would be simpler to have an array of suffixes and to use the i%10'th element. In general, circular lists can grow and shrink.

There are times when it's necessary to have a pointer that doesn't point to anything. The macro NULL, defined in , has a value that's guaranteed to be different from any valid pointer. NULL is a literal zero, possibly cast to void* or char*. Some people, notably C++ programmers, prefer to use 0 rather than NULL.
You can't use an integer when a pointer is required. The exception is that a literal zero value can be used as thenull pointer. (It doesn't have to be a literal zero, but that's the only useful case. Any expression that can be evaluated at compile time, and that is zero, will do. It's not good enough to have an integer variable that might be zero at runtime.)

The null pointer is used in three ways:
1. To stop indirection in a recursive data structure.
2. As an error value.
3. As a sentinel value.
1. Using a Null Pointer to Stop Indirection or Recursion
Recursion is when one thing is defined in terms of itself. A recursive function calls itself. The following factorial function calls itself and therefore is considered recursive:
/* Dumb implementation; should use a loop */
unsigned factorial( unsigned i )
{
if ( i == 0 || i == 1 )
{
return 1;
}
else
{
return i * factorial( i - 1 );
}
}
A recursive data structure is defined in terms of itself. The simplest and most common case is a (singularly) linked list. Each element of the list has some value, and a pointer to the next element in the list:
struct string_list
{
char *str; /* string (in this case) */
struct string_list *next;
};
There are also doubly linked lists (which also have a pointer to the preceding element) and trees and hash tables and lots of other neat stuff. You'll find them described in any good book on data structures. You refer to a linked list with a pointer to its first element. That's where the list starts; where does it stop? This is where the null pointer comes in. In the last element in the list, the next field is set to NULL when there is no following element. To visit all the elements in a list, start at the beginning and go indirect on the next pointer as long as it's not null:
while ( p != NULL )
{
/* do something with p->str */
p = p->next;
}
Notice that this technique works even if p starts as the null pointer.
2. Using a Null Pointer As an Error Value
The second way the null pointer can be used is as an error value. Many C functions return a pointer to some object. If so, the common convention is to return a null pointer as an error code:
if ( setlocale( cat, loc_p ) == NULL )
{
/* setlocale() failed; do something */
/* ... */
}
This can be a little confusing. Functions that return pointers almost always return a valid pointer (one that doesn't compare equal to zero) on success, and a null pointer (one that compares equal to zero) pointer on failure. Other functions return an int to show success or failure; typically, zero is success and nonzero is failure. That way, a "true" return value means "do some error handling":
if ( raise( sig ) != 0 ) {
/* raise() failed; do something */
/* ... */
}
The success and failure return values make sense one way for functions that return ints, and another for functions that return pointers. Other functions might return a count on success, and either zero or some negative value on failure. As with taking medicine, you should read the instructions first.
Using a Null Pointer As a Sentinel Value
The third way a null pointer can be used is as a "sentinel" value. A sentinel value is a special value that marks the end of something. For example, in main(), argv is an array of pointers. The last element in the array(argv[argc]) is always a null pointer. That's a good way to run quickly through all the elements:
/* A simple program that prints all its arguments.
It doesn't use argc ("argument count"); instead,
it takes advantage of the fact that the last value
in argv ("argument vector") is a null pointer. */
#include
#include
int
main( int argc, char **argv)
{
int i;
printf("program name = \"%s\"\n", argv[0]);
for (i=1; argv[i] != NULL; ++i)
printf("argv[%d] = \"%s\"\n", i, argv[i]);
assert(i == argc);
return 0;
}

A void pointer is a C convention for "a raw address." The compiler has no idea what type of object a voidpointer "really points to." If you write
int *ip;
ip points to an int. If you write
void *p;
p doesn't point to a void!
In C and C++, any time you need a void pointer, you can use another pointer type. For example, if you have achar*, you can pass it to a function that expects a void*. You don't even need to cast it. In C (but not in C++), you can use a void* any time you need any kind of pointer, without casting. (In C++, you need to cast it.)