Sessions and transcripts
A session is one Claude Code conversation. Its transcript is the full record of everything said and done in it. These two things are stored separately on your machine: the session's title and basic details live in one place, and the transcript itself lives in another. The app reads both and matches them up by a shared session id, so the list and the readable conversation come together as one.
You never manage this yourself. It matters for just one reason: a session is listed only when its transcript can actually be found. If Claude Code has removed an old transcript (it clears them out after a while), there is nothing left to read, so that session simply doesn't appear in the list rather than showing as an empty entry.