Back in the early days of PCs, there were only 2 types of ports, serial and parallel. The parallel port (LPT) was used almost exclusively for printers while the serial port (COM) was used for everything else. Mice and modems were the main uses for serial ports but there were other devices that used serial ports as well (my first GPS attached via the serial port).
The port had to be configured to match the speed of the device that was attached to it. Some of the parameters were the baud rate (speed, typically 9600 but could be 1200 to 115000), number of bits, (usually 7 or 8), whether to use parity or not, stop bits, etc...
There are adapters that let you attach serial port devices to a USB port, the USB port can then be configured as a COM port. Look in Device Manager for a COM port such as COM1. If you find it, right-click and go into properties. There is a Port Settings tab that lets you set the various parameters for the port.
You should be able to get lots of info by doing a search on COM or serial port in google or your favorite search engine.