It does, but it also has bookmarks and there are a number of bookmarking services that all improve on the basic browser offering in some way.

When I first started Recawl Chrome's history search was somewhat unreliable/buggy although it has improved since then.

I also find Chrome's history search hard to use.

For example:

You cann't constrain a search by time period and you cann't block sites from appearing in the results.

Recawl suggests keywords related to your current search and it also learns to re-order results for search terms based on your previous click history.

Your Recawl history is available to search remotely whereas Chrome's history is only local.