Binaural beats were discovered in 1839 by a German experimenter, H. W. Dove. The human ability to "hear" binaural beats appears to be the result of evolutionary adaptation. Many evolved species can detect binaural beats because of their brain structure. The frequencies at which binaural beats can be detected change depending upon the size of the species' cranium. In the human, binaural beats can be detected when carrier waves are below approximately 1000 Hz (Oster, 1973). Below 1000 Hz the wave length of the signal is longer than the diameter of the human skull. Thus, signals below 1000 Hz curve around the skull by diffraction. The same effect can be observed with radio wave propagation. Lower-frequency (longer wave length) radio waves (such as AM radio) travel around the earth over and in between mountains and structures. Higher-frequency (shorter wave length) radio waves (such as FM radio, TV, and microwaves) travel in a straight line and can't curve around the earth. Mountains and structures block these high-frequency signals. Because frequencies below 1000 Hz curve around the skull, incoming signals below 1000 Hz are heard by both ears. But due to the distance between the ears, the brain "hears" the inputs from the ears as out of phase with each other. As the sound wave passes around the skull, each ear gets a different portion of the wave. It is this waveform phase difference that allows for accurate location of sounds below 1000 Hz(9). Audio direction finding at higher frequencies is less accurate than it is for frequencies below 1000 Hz. At 8000 Hz the pinna (external ear) becomes effective as an aid to localization. In summary it's the ability of the brain to detect a waveform phase difference is what enables it to perceive binaural beats.

Founder and president of Brain Sync, Kelly Howell is internationally acclaimed for her pioneering work in mind expansion. The author of over 60 best-selling audio programs, Kelly is the creator of Brain Sync's Brain Wave Audio Technology. "Kelly Howell is a masterful guide in helping to integrate body, mind, and spirit. In an age where life is becoming increasingly hectic, her instruction is invaluable." Larry Dossey, MD Author: THE EXTRAORDINARY HEALING POWER OF ORDINARY THINGS Eminent scientists and medical professionals such as Harvard-trained neurosurgeon Norman Shealy, MD, PhD have used programs developed by Kelly in their professional practices. Her 20 years of research into spiritual practices and meditation, combined with her work with physicians and biofeedback therapists, have enabled Brain Sync to refine its extraordinary audio technology into the exceptionally powerful, life-enhancing audio programs so many have come to rely on.
♥ I've beeen training in self-hypnosis for a while (under supervision and for a reason) and found that the 8-4 Hz beats put me very quickly in a deeply relaxed state. Definitely the thing! With the timer, I can shut them for the real self-hypnosis. I haven't tried the other beat generators yet, but this one works much better than I expected and clearly does the job. In a few words: I'm impressed!
Theta brainwaves are next highest in frequency above delta and are especially important for many people using brainwave entrainment and meditation because theta waves are at a threshold, forming a link between wakefulness and the subconscious mind. Theta waves bridge between our awake self and the creative and insightful understandings from below our conscious awareness, and while they are not common in awake adults, they are normative for children under 13 years old. 
Effects on cortisol: The hormone cortisol is commonly associated with stress, and when levels are higher than usual, it can have a negative impact on the body. High levels of cortisol can lead to a range of conditions, including Cushing syndrome, menstrual cycle and female libido changes, anxiety, and depression. Dr. Giampapa noted a reduction of cortisol of up to 70-80 percent in several study participants.