Well if you want to understand rectifiers, you need to understand the diodes, because that is the main component. Capacitor is there to make the output voltage more desirable for the device.
Consider this circuit.
A diode is in a nutshell a device that let's the current only one way. This is AC input. So if you let the current only one way, you basically cut off half of the sinusoid.
Now, put a capacitor in parallel with this resistor. What happens?
During one small time interval called \DeltaT, a current runs through diode in one way and it runs until capacitor is fully charged. Capacitor is max charged at peak of the sinusoid.
Now after that, AC input starts to drop, but you have that charge in that capacitor right? So it slowly starts to give away that charge.
[URL]http://physicsarchives.com/course/electrictransmission_bestanden/image268.gif[/URL]
That almost flat line represents capacitor discharge.
This is a basic idea, of course there are more formulas and stuff behind this, and this circuit that you see is just a trivial example of how these rectifiers work. More complex structures with diodes and capacitors are used in actual electrical engineering.