Common app's privacy policy?

I was reading common app’s privacy policy, and it says:

We also use cookies for authentication purposes, to remember your web site settings and preferences, to gain certain behavioral information about you that is shared between us and our members and to provide you with targeted advertising from our members even if you leave our site, or one of our member’s sites and browse other non-affiliated web sites (“re-target advertising”). Users can control the use of cookies at the individual browser level. If you reject all cookies, you may still use our site but your ability to use some features or areas of our site may be severely limited, including possibly not being able to use those Common Application® services that require registration in order to participate.

What does it mean? Are they tracking our browsing history or something?

bump

No. Cookies are generally not harmful to your privacy or your computer, especially if they are placed in your browser by a reputable site like commonapp.org. I would strongly recommend against deleting cookies, as this can interfere with the functionality of certain websites. Please read this article (http://www.thesafemac.com/the-myth-of-the-dangerous-cookie/) for more information.

Besides, the NSA is always watching you.

(If you are very concerned about your privacy, consider getting Disconnect, Adblock Plus, HTTPS Everywhere, and Blur for Firefox, or just use the Tor Browser or get a VPN - though do know that neither is 100% foolproof.)