I assume you're meaning taps and dies. Taps are used to thread holes, dies make threads on rod. For the record, these tools cut threads, not roll them. They work the same way as a pipe threader, but on a smaller scale. Tap and die sets are generally not very cheap, and you do want a quality set. If you get a cheap set, don't expect too much.
Having a good tap and die set is not only good for cutting new threads, but chasing old ones. Rust and crud can accumulate on threads redering a bolt or threaded hole useless. You can very easily fix that with a tap and die set. Damaged threads can be fixed, too. If a hole is really mangled, you can drill it to the next larger size, re-tap it, and use a new, larger bolt.
Always use cutting oil to keep the cutting teeth sharp, and every turn or two, back out again to clear the flutes.