The main suggestions in practical applications of dynamic photorefractive holographic recording for interferometry, processing of 2D pictures, operations with laser beams, and holographic memory systems are reviewed. Specific photorefractive techniques underlying these applications, and in particular, methods of continous and nondestructive hologram reconstruction, nonlinearities in recording mechanisms, and basic limitations due to geometrical factors, Bragg regime of diffraction, and optical noise are considered in detail. The paper is preceded by two introductory sections devoted to fundamentals of dynamic holography and phase conjugation in volume media, and to specific features of' recording and reconstruction of the photorefractive holograms.