The Log Panel shows you a log of the activity that has happened on the system. This is a summary list of the last 7 activities that have been done on the system which include updates to students, instruments or contacts and any emails that have been sent out.
To view a full list of all emails that have been sent through the system, you can go to 'Library' and then 'Sent Emails' which will show you details of all emails as well as the option to view the email details and all recipients of the email.