The hydraulic press can be used for pressing things (like bearings, pins, etc.) in and back out of parts, for bending and straightening metal, for crimping the ends of pipe, for broaching keyways, for mashing stuff into submission, for punching holes, and more. Simply7 also made a press brake set for it, so you can easily bend up to 1/8" sheet steel or 1/4" aluminum in the press.
Please understand the immense amount of force this machine can exert and look up the proper use of it before attempting your project. It is not the most dangerous item in the shop, but used improperly it can do some damage. Especially when breaking things free or bending metal, be very cautious and understand that things can suddenly break loose and exert all of the built-up potential energy at once, launching them across the shop at high velocity or knocking a heavy workpiece off of the press.
As always, if you don't know what you're doing - ASK.
The second picture is of the press brake tool made by Simply7 for bending sheet metal with the hydraulic press. One half sits on the bed, the other half slips over the piston. When you pump the hydraulic cylinder, it pinches the metal between the two halves of the tool and it has nowhere else to go than to bend.