It all has to do with the quality of the AC coming into your house from the power grid. Depending on where you live, the power can be dirty, i.e., in a large city, unstable, prone to lightning strikes, or the best case scenario, a stable signal from the power company.
chayro gave good explanations of the different types of conditioner or reconditioner that would be needed.
When power is stable and does not need to be regenerated (active power conditioner), a passive conditioner can provide benefit. But, you get what you pay for.
A good passive's purpose is to lower the noise floor of the AC coming in thru your wall receptacle. It also removes RFI/EMI. The result is more detail, better separation of instruments, basically better signal to noise ratio.
The problem with power conditioners is to find one that does not restrict the dynamics of your components. Most units will state "Non-Current Limiting," which means they will let the signal flow unrestricted and not colour the sound. This may be true of low-current components, such as CDPs, DAC, preamps, but IMO, all passives affect the sonics of amplifiers.
Most members using conditioning will only have low-draw components plugged into the device and the amp plugged directly into the wall or a very high-end balanced power device.
A good passive PC can range from about $300 to $700, while active units can cost into the thousands.