"Land and Hold Short" is a controversial term now. Translated it means the control tower wants you to land on a given runway and stop before you cross another crossing runway. That significantly decreases the amount of usable runway. If you misjudge and cross the runway, it sets you up for an FAA violation and/or bent metal.
I was given a land and hold short clearance at Muncie, IN. I was testing the autopilot on the ILS instrument approach to that runway. Suddenly I was near the runway threshold going 20 knots too fast. I landed and attempted to stop with heavy breaking. I blew the left main tire and the plane came to rest on the intersection of the two runways. Lucky for me, Muncie is not a very busy airport with a forgiving controller. That was the worst approach and landing decision-making ever. I still wonder why I did not just add power and go around.