For more, see Draw Tools, Vertices
To activate: (in Edit Layer mode) Toolbar
Place additional vertices along the length of a line or polygon feature.
To Use:
Select feature to which vertex / vertices are to be added.
Activate Add Vertex tool.
Move pointer to desired location on feature and click to add vertex.
Repeat click as desired for additional vertices.
Note: When adding a vertex to a line common to 2 selected polygons a vertex is created in the same location for each polygon. (Helpful when splitting polygons!)