It's to improve the amount of internal energy you have (how strong you are outside of technique, like mana, can be accumulated via cultivation or by eating pills or foods with a lot of energy). Usually a pill, made from cultivation ingredients like a 1000 yr old ginseng etc.
Since it's a demon pill, as explained in the chapter it's made from the suffering of others and has drawbacks (red sclera, may have other side effects).

I don't actually read a lot of Xianxia or Murim but what are the pills they're talking about is it like improving cultivation or shtick?