A basic voltage regulator LM7805 has three legs, converts varying input voltage and produces a constant regulated output voltage. The most common part numbers start with the numbers 78 or 79 and finish with two digits indicating the output voltage. The number 78 represents positive voltage and 79 negative one. The 78XX series of voltage regulators are designed for positive input.
The LM78XX series typically has the ability to drive current up to 1A. As mentioned above, the component has three legs: Input leg which can hold up to 36VDC Common leg (GND) and an output leg with the regulator's voltage. For maximum voltage regulation, adding a capacitor in parallel between the common leg and the output is usually recommended. Typically a 0.1MF capacitor is used. This eliminates any high frequency AC voltage that could otherwise combine with the output voltage. The circuit diagram below shows which a typical use of a voltage regulator.