From https://www.arduino.cc/en/Reference/Board :
The input voltage to the Arduino board when it's using an external power source (as opposed to 5 volts from the USB connection or other regulated power source). You can supply voltage through this pin, or, if supplying voltage via the power jack, access it through this pin. Note that different boards accept different input voltages ranges, please see the documentation for your board.
For specific values, visit https://www.arduino.cc/en/Main/Products?from=Main.Hardware and select your board, and look down to where it says "Input voltage" - there's a "recommended" and "limit", each being a range. Note that some power sources will fluctuate (e.g. 4 AA batteries are 6 volts, possible slightly higher when brand new, but will drop down if there is a high drain, or as they get used up. 4 AA batteries will not provide 6v for long).
As for current (measured in amps or milliamps), if the power supply cannot supply what is used by the board, it will overheat; if it provides more than is required, then it will work 100% perfectly well (so long as you don't have a short circuit). The current an Arduino on it's own will draw will vary depending on the board, Nick Gammon measured an Arduino Uno Rev 3 board at 50 milliamps, but LEDs will typically draw around 20mA each; motors will draw a lot more. 1000mA = 1 amp, so Nick's Uno would draw 0.050 amps. Power supplies typically say on them how many amps (or in some cases, milliamps) they can (safely) provide.