"Titles" means any sort of text overlay on a video--opening/closing credits, subtitles, scene titles, etc. The opening credits together with underlying filmed imagery is known as the "title sequence."

"Creating Titles
What’s a movie without titles? Incomplete. Almost any movie can benefit from text of some kind: opening and closing credits, the superimposed names of people and places, or simply the words “The End” at, well, the end."

http://www.peachpit.com/articles/article.aspx?p=676592&seqNu...

"Sometimes I go back to my videos weeks or months later—particularly if they are a little on the long side, and I want to make a trimmed-down version for my friends. I don't go back to the original source material; I start by capturing the protection copy—the finished video without titles, music, or effects—and cut down from there."