The Output Browser is a simple tool that displays the output generated by your programs, and by operations such as macroexpansion, compilation and tracing. You can create one by choosing
Tools > Output Browser
or clicking 
in the Podium. Output browser shows the Output Browser.
The Output Browser has one main area that displays the output from the environment. Output usually consists mostly of compilation, trace and macroexpansions, but can also include output from other tools, such as the Profiler. The main area is actually an editor window, so all the usual editor keyboard commands can be used in it. See The Editor for more details about these operations.
The Output Browser is invaluable when you are developing code, because it can be used to collect any output generated by your code. An example of how to do this is given in Viewing output.
Many other tools in the environment contain an output view, which you can display by clicking the Output tab. Such views are used to collect all the output which has been generated by that tool. For instance, the Listener has an output view that displays all the output from forms evaluated in the Listener, and the editor has an output view that collects any output generated by the editor, such as compilation messages or macroexpansions. Note that the Output Browser is the only tool which displays any output from your own code without any need for further action on your part.
Note: The Output Browser (and the Output tab of some tools) displays only the output from the Common LispWorks environment. By default, processes not associated with the tools write their output to the terminal stream.