How to update your list names and add a list description:
Click on the 'Manage Databases' link on the home screen.
Review your databases and click the blue Edit link (you'll find this to the far right of the list name) for each list you would like to edit.
On the next screen
Change your list name
Be sure to use a name that will resonate with your subscribers. Avoid list names like Salesforce Dump, Old Subscribers, Webinar Leads, etc.
Add a list description
Again, use a description that will make sense to subscribers. You may also want to include the list's send frequency (i.e. – monthly, bi-monthly, weekly, etc.)
Click the Save button