People frequently get confused regarding these file types. Here’s how to use these files. Updated.
These file extensions are commonly used to show that a file is an image of a CD or DVD.
The most simple way to access these files is to use your CD or DVD Burner to burn them to a disk. Nero is a common program that is used to burn bin/cue files to hard media.
One really nice thing to do is to treat these files as a virtual CD or DVD without ever burning them. Daemon Tools is one program that is often used to do this. Microsoft now has a free program that does this as well.
The other place that *.bin files are frequently used are in emulation software. Gaming roms are often stored in compressed files full of bin files. If you have a zip file full of *.bin files, try Mame or some similar emulator.
Updated for some minor edits and spelling changes.