The verify cache checks the files on your hard drive and compares each one to the version Steam has on its servers, if a difference is found it will download the missing files and fix. Sometimes it can find multiple files that need fixing but it will only download one, this is because the files are stored grouped in the compressed archives on the server and downloaded one files extracts to replace multiple.
If you find yourself having to verify and download a lot it usually means you have an unstable internet connection and files get corrupted in transit. Either that or you have a faulty drive.
As for shutting down your internet to avoid hackers, this will have almost no impact if you are running an up to date firewall (which comes with Windows as standard), you are actually putting yourself at risk more by not immediately getting software patches and then going online at a later date without the latest patches. Hackers normally gain access to a system via an application installed on your system (viruses) not by attempting to find vulnerabilities in your network, hacking a network is much harder. You can limit risk of hacking while having always on internet simply by having anti-virus and a firewall with default settings.
Windows 7 Pro, Intel i7 3.8 GHz (Passmark: 9021), 16GB DDR3, NVIDIA GTX 780 4GB Superclocked (Passmark: 8056)