Power Phases regulate the voltages and other stuff going to your CPU.
4+1 stands for, 4 for the CPU, and 1 For the memory.
If you have more phases, each phase will have to do less to out put the same amount of power.
ex. you have a 100w cpu load, and you have a 4 phase design on the CPU. Each phase would have to regulate 25w.
If you had 8 phases, each phase would have to regulate only 12.5w.
4 Phase designs are not known to hold up well under high overclocks, but MSI doesn't see it that way, and continues to use ony 4 phases on even their high end boards (890FXA-GD70). If you don't overclock too hard, I would not worry about having a 4 phase board, and any processor will run fine at stock on a 4 phase board
The "+1" after the cpu phases doesn't really matter unless you are seriously overclocking your ram.