Virtual Memory is a portion of the Hard Disk Space that Windows uses as a Virtual RAM... Basically, Windows loads a lot of dlls etc into RAM because access to RAM is faster that access to file on hard disc. Sometimes, the provided RAM is insufficient to store the dlls temporarily for quick access. So, Windows creates a page file in the Virtual memory to store extra data. Access to data on the Virtual memory is not as fast as access to data on RAM but it is faster than access to other data on hard disk because windows knows where to look...
Typically, it is recommended to have virtual RAM set to about 2 times the amount of physical RAM on the system. Also, if you defrag the partition and set the VRAM min and max to same amount, you can ensure that the VRAM is one continuous piece which will improve performance. If, after setting VRAM, you get crashing problems, it could be that the VRAM provided is inadequate and you should change settings...
Many links to additional detail at *www.google.com/search?client=opera&rls=en&q="virtual+memory"&sourceid=opera&ie=utf-8&oe=utf-8
Arun