As far as I can tell, they don't have any documented meaning. According to Microsoft documentation wglCreateContext() returns a non-NULL HGLRC on success. HANDLEs are really just numbers that identify resources within the current process. They aren't supposed to have any meaning. The only constraints that have to hold are that 2 contexts which are not the same are not allowed to have equal HGLRCs and that HGLRCs that identify valid contexts must not be equal to NULL.
And, now I am just itching to ask: What does this have to do with SFML exactly?
You would have been better off asking this on the MSDN forums, StackOverflow, gamedev.net, or any other place that has more specialists than the SFML forum.