There are 5 type of track in total. Animation, activation, audio, control and playable. First 3 are pretty self explanatory as for other I would encourage checking unity manual as it goes much more in depth than I could in this post.
You can record animations using the Timeline window by click the red circle. Note that this does not work with skinned mesh objects as they are expected to use an animation clip. Animation process is the same as animation window. Once finished right click and convert to finite clip. Now you have a recorder animation that you can scale and control form the inspector.
Attach PlayableDirector component to any object in the scene. Assign the timeline playable you want to re-use. Unfold bindings and re-attach references from the scene. It usually helps to keep everything grouped as you are unable to name track.
Showing timeline inspector:
Below is an image of my sequence. A good example how having no grouping and bad naming will make it difficult to re-use the timeline.