Session is the length the current connection has been active...time is the total time the use the user has been connected - its a aggregate of all the sessions.
It depends on what it says under session and object.
The time counter will start even if the user is only on the login page without the credentials. Where is the ip from?
That is meaningless...that just means someone connected to the login page...it would say the user name under object and then login if someone actually logged in.