Before coming to LoadRunner let's understand What is load testing. When we are talking in terms of Software Testing Load Testing means "Load testing is the process of putting demand on a system or device and measuring its response.".
LoadRunner is a performance and load testing product by Hewlett-Packard (since it acquired Mercury Interactive in November 2006) for examining system behaviour and performance, while generating actual load. LoadRunner can emulate hundreds or thousands of concurrent users to put the application through the rigors of real-life user loads, while collecting information from key infrastructure components (Web servers, database servers etc). The results can then be analysed in detail, to explore the reasons for particular behaviour.
LoadRunner Overview
When we talk about LoadRunner Architecture, LoadRunner works by creating virtual users who take the place of real users operating client software, such as Internet Exploreranother page on this site sending requests using the HTTP protocol to IIS or Apache web servers.
Requests from many virtual user clients are generated by "Load Generators" in order to create a load on various servers under teston this page
These load generator agents are started and stopped by the "Controller" program.
The Controller controls load test runs based on "Scenarios" invoking compiled "Scripts" and associated "Run-time Settings".
Scripts are crafted using the "Virtual user script Generator" (named "V U Gen"), It generates C-language script code to be executed by virtual users by capturing network traffic between Internet application clients and servers.

With Java clients, VuGen captures calls by hooking within the client JVM.
During runs, the status of each machine is monitored by the Controller.
At the end of each run, the Controller combines its monitoring logs with logs obtained from load generators, and makes them available to the "Analysis" program, which can then create run result reports and graphs for Microsoft Word, Crystal Reports, or an HTML webpage browser.
Each HTML report page generated by Analysis includes a link to results in a text file which Microsoft Excel can open to perform additional analysis.
Errors during each run are stored in a database which can be readanother page on this site using Microsoft Accessanother page on this site
Vusers (Virtual Users)
LoadRunner can emulate thousands of Virtual Users.
Load generators are controlled by VuGen scripts which issue non-GUI API calls using the same protocols as the client under test. But WinRunner GUI Vusers emulate keystrokes, mouse clicks, and other User Interface actions on the client being tested Only one GUI user can run from a machine unless LoadRunner Terminal Services Manager manages remote machines with Terminal Server Agent enabled and logged into a Terminal Services Client session.
During run-time, threaded vusers share a common memory pool. So threading supports more Vusers per load generator.
The Status of Vusers on all load generators start from "Running", then go to "Ready" after going through the init section of the script. Vusers are "Finished" in passed or failed end status. Vusers are automatically "Stopped" when the Load Generator is overloaded.
No additional license is needed to monitor standard web (HTTP) servers (Apache, IIS, and Netscape).
To use Web Services Monitors for SOAP and XML, a separate license is needed, and vUsers require the Web Services add-in installed with Mercury Feature Pack (FP1)

LoadRunner - Tutorial