The handicaps (HCP) section is all about showing players HCP and display it in relevant places, like in the tournament bracket. It's not a handicapsystem, but will probably be expanded to that in the future.
There are multiple reasons for using the built in handicap list:
To create a handicap list, simply press the "Create" button in the upper, right corner. When you create a HCP list and link it to an upcoming tournament, the players that sign up to the tournament will be added to the HCP list.
So to add players HCP is done more effectively if you wait until the entry date for the tournament is passed.
In the tournament settings, activate the Handicap switch, more info here.
You will then get the option to selecte the handicap list you created.
Note that when a tournament has been drawn and the players HCP is shown behind their name, you can not update it from the HCP list itself. From then on you must do it from the tournament page. More info to be found in the tournament settings post [insert link].
The HCP lists can be used over and over and will keep the last registered value per player. Now players signing up for your HCP tournaments are added automatically as long as the HCP list is defined in the turnament settings.