The element inspector is one of the most powerful tools in the test recorder. It gives you instant access to the element attributes, a huge variety of actions and a list of validation options.
You can activate the element inspector by mousing over an element and then either hitting shift twice quickly, which is known as double shift, or by clicking on the 3 vertical dots on the tool tip.
Doing this will freeze the element and give you access to all the element inspector menu options. You can perform various actions on the element through the Actions menu, or you can take a look at the elements attributes with the Attributes menu, or if you like, you can create validations against the element with options in the Validations menu.
These powerful options make it simple and straightforward to create the test steps that you need.