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Domains are renewed on a yearly basis. Toward the expiration date of your domain you will be notified and have the option of renewing your domain name.
If you fail to renew your domain before the expiration you still have a grace period to retrieve the domain before it becomes public again.
It is possible since the domain name and the web hosting are two different products and can each function in different ways. However, without a domain name there would be no way to access or lead to the information stored in your hosting account. Domain names purchased without web hosting are considered 'Parked' until such time as their name servers are delegated to a webhost.
Web hosting services work by storing your website files in high-powered computers (web servers) connected to a very fast network. While all types of hosting servers will act as a storage center for your website, they differ in the amount of storage capacity, control, technical knowledge requirement, server speed, etc..
A control panel is an interface that allows customers to manage their various hosted services in a single place. Some of the commonly available modules in most control panels: Access to server logs. Details of available and used webspace and bandwidth.
Services that do not have unlimited bandwidth are billed per gigabyte at a rate of $0.25 (twenty five cents) over the allotted bandwidth on the service.
You can monitor your server's status in cPanel and WHM.
Raw Access Logs allow you to see who has accessed your site without the use of graphs, charts or, other graphics. You can use the Raw Access Logs menu in cPanel to download a zipped version of the website’s access log. This can be very useful when you need to see who is accessing your site quickly.