all: the default target (the one you get when typing "make").
clean: removes all the generated files
distclean: also removes the files generated by Makefile.cvs Not very useful within KDE (see dist for the "dist" concept and svn-clean for a better way to make really clean).
dist: supposedly for making a tarball out of SVN sources, but not very well supported within KDE. Better use kdesdk/scripts/cvs2pack for that.
force-reedit: re-run automake and am_edit on the Makefile.am
install: well, install everything :)
install-strip: install everything and strips binaries (removes debugging symbols).
install-exec: only install the binaries and libraries
install-data: only install the data files
check: compiles the test programs (i.e. those defined with check_PROGRAMS). It is even possible to actually run some tests during "make check", see kdelibs/arts/tests/Makefile.am