Gamma waves are the most recently discovered brainwave, a discovery made possible by digital EEG technology. Gamma is associated with the integration of information from different areas of the brain, and having a good memory is associated with having a certain baseline of 40 hertz gamma activity. Low gamma activity is associated with learning disabilities and poor memory.
It is important to note that not all stress is bad. Everyone experiences a certain amount of stress on an almost daily basis, and it cannot be completely eliminated. Stress becomes a problem when too much is experienced, and it has a negative impact on behaviors, relationships, and health. The term “eustress” refers to positive stress that is associated with improved performance and productivity. “Distress” is negative stress that is associated with performance decrement and negative health consequences. The individual’s perception of the stressor and coping resources determine whether a situation is eustress or distress. College graduation is a stressor for most. The student who has a job or who has been accepted to a graduate program likely perceives the stress of graduation as eustress, whereas the student who has student loans and no immediate plans of a job or further education perceives distress.

Recently developed entrainment software has been designed to correct specific imbalances in hemispheric activity associated with undesirable mind-states. For example, people suffering with depression often have more activity in the right hemisphere, and specially designed brainwave music decreases this activity while increasing activity in the left hemisphere, reducing depression.

Consider the following analogy. Imagine a ballroom full of people dancing together. When the music changes to a faster tempo, the dancers move faster in response to this. When a slower piece of music is played, the dancers’ rhythm slows down as well. In a similar way, the frequency of your brain will change in response to the frequency of the binaural beat that it is exposed to. For example, a person who is in a state of very deep meditation may have a dominant brainwave frequency of 5 hertz, so by listening to a binaural beat with a frequency of 5 hertz you can entrain your own brainwaves to a similar state. 

Binaural beats are dual tones, each one slightly different from the other. You hear one tone in each ear and your brain responds by creating a tone to reconcile the difference between the two. Isochronic tones are single tones. The variation in pattern here is brought in by interspersing silence between the sound, which means that your isochronic tone does not have a continuous sound but tones broken up by silences. Studies show that isochronic tones have far more contrast than binaural beats because of the silence and sound pattern. This sharp contrast evokes a faster impact from your brain, prompting it to match the frequency more quickly. Also, isochronic tones are found to be stronger stimulants to the brain.
With regard to listening without headphones specifically, you might find it irritating if you are someone who suffers from motion sickness, depending on how the track is created. If you were listening to binaural beats, they really need headphones to work properly. If you are in a room and closer to one speaker you may not even hear binaural beats properly, and if sitting off centre in the room generally, that may have unsettled you if you have motion sickness as the tones try to form a beat in your head. If it was just a standard isochronic tones theta track that shouldn’t be irritating if you have motion sickness.
Eric Bartel is the creator of the Free Binaural Beats website and the sole creator of the audios found here. He specializes in creating binaural beats and isochronic tones along with relaxing ambient meditation music. From his home studio in the Black Hills of South Dakota, Eric is committed to bringing the healing power of binaural beats to anyone who wants to live a more peaceful, relaxed and fulfilled life.
... The goal of the study was to observe the effect of exposure to BB on working memory capacity. As suggested by many studies, BBs corresponding to alpha brain waves can positively influence cognitive processing, namely attention, auditory sequential memory, working memory, working memory storage, and reasoning ability (Carter & Russell, 1993;Cruceanu & Rotarescu, 2013;Foster, 1990;Kennerly, 1994;McMurray, 2006). The results show that a BB of the frequency of 9.55 Hz – which is a representation of the alpha frequency range of the brain activity – had a temporary positive effect on working memory capacity in our sample of healthy, adult university students. ...

When delta waves are present, our awareness of the external world decreases and shuts off. People with ADD have problems with delta waves occurring when they are trying to focus, and focus and attention become increasingly impossible with stronger delta waves. Studies show a reduction of anxiety, improvements in insomnia, and elimination of headaches when people engage in sessions of delta brainwave entrainment.
The functional role of neural oscillations is still not fully understood;[6] however they have been shown to correlate with emotional responses, motor control, and a number of cognitive functions including information transfer, perception, and memory.[7][8][9] Specifically, neural oscillations, in particular theta activity, are extensively linked to memory function, and coupling between theta and gamma activity is considered to be vital for memory functions, including episodic memory.[10][11][12]