My two cents.
I was in the US Navy on submarines, so I have some pretty in depth experience with lead acid batteries. "Boats" have just about the most elaborate and large a lead acid battery system that you would ever come across. The battery is the last ditch source of power on nuke boats. After reactor scram drills, the battery is all that is available until you can reduce depth, snorkle, and start the emergency diesel engine (while you are re-starting the reactor...and starting turbine generators and main engines...it gets to about 130 to 140 degress F during "rigged for reduced electrical power" in the engine room...analogy: starting a reactor in a sauna while bobbing around like a bar of soap in a bath tub with kids playing in it...sea sick and puking too).
The other posts are pretty good info. I hope this helps tie it togther from a practical angle. Anyway, on an equalizing charge (a regular charge to non-boat types)...the charge is started at a very high charge rate (current) to shock the plate surfaces to counter the coating/plating mentioned in the other posts. Does it totally reverse it...heck no...but it does reduce it. I used the same philosophy on charging lead acid batteries at home every since. I started the charge on the high current "start" setting on my charger for 5 minutes, then reduce it to a normal charge setting. I actually go to a fast setting for the next 30 minutes and then slow setting. It has extended my lead acid battery life quite a bit. BTW, submarines do not use flat set charging rate for charging...there is a specific curve that is followed...my very rough home equivalent is start (5 min), fast (30 minutes), then slow until the charging amps get close to zero.
I have supervised tons of charges, "hopped gravities" in the battery compartment, bypassed low cells (jumpered)...done it all.
The 50% thumb rule mentioned in another post is a good one. Remember, a typical battery is made up from several individual cells...the number varies with the desired output voltage. Push a battery too hard and a cell will "reverse" on you...then that battery is trash. Avoiding reversing a cell is the reason that you try not to go below 50% or so charge...to give each cell margin to "reversing". The battery is only as good as the weakest cell!!!!