My husband's home now & says:
All it is, is a different type of drive system, to which normal cars have.
When moving off on a slippery surface, like mud or ice, a normal diff will allow just one rear wheel to supply traction, wheras, a limited slip diff will apply traction to both, or either wheels, therefore doubling the traction available.
So fishing, you asked whether "is it better to have or not?" & he says yes, although most cars don't need one.
He also says, he's freezing cold & other contributors may have a better explanation of this function. lol
Good luck.