I think you might find these explanations and examples better than what I've written, but I'll give it a shot anyways: https://www.google.com/search?q=define+participle https://www.google.com/search?q=define+past+participle https://www.google.com/search?q=define+present+participle
You might notice that a lot of the new words in this section end with "-ido" or "-ida", or "-ado" or "-ada". These words are in "past participle" (or past participular) form. We see this form in English with our "-ed" ending (though we also use "-ed" as our normal past-tense ending), like when you used the term "demonstrated" in your comment ("...how any of this is demonstrated..."). We also see it with words like "given", like when you said "in the given examples".
[The "present participle" ending, according to https://es.wikipedia.org/wiki/Participio, is "-nte", but I'm not as familiar with it in Spanish. I think it's the equivalent of English's "-ing" ending.]
You'll notice participles when we're using verbs in "non-verby" ways; that is, as adjectives or as nouns (or in English, as members of compound verbs; e.g., "are going").
Examples (most of these should be right, but I might confuse present participles and gerunds):
"The Giving Tree", "Gone with the Wind", "Taken", "Tangled";
"never-ending story", "fleeting pleasures", "the arriving guests", "the walking dogs";
"broken toy", "cooked food", "rotten eggs", "molten lava" (apparently molten is the ancient past participle of "melt");
"I'm bored", "she's embarrassed", "he's taken";
"The imprisoned are taken and shot", "The rocking rolling beings were rocked and rolled around", "Walking and talking are tiring".
This site has helped me a lot with the grammar. Check these links out for the differences and when to use each: http://spanish.about.com/cs/verbs/a/servsestar.htm
When you state that something is conocido in general, you usually translate that as "well-known" in English, i.e. many people know it.
If you say something is conocido to a person, in English you express it as "it is known to the person" or "the person knows it".
In this particular sentence, both "known" and "well-known" are good translations.