The tradition of Ash Wednesday in the Catholic Church is a poignant reminder that our bodies will die someday and turn to dust. A priest places ashes on parishioners' foreheads to remind them of their mortality and the need for repentance. The words spoken as the ashes are imposed on the forehead are from Genesis 3:19: "Remember man that thou art dust and unto dust thou shalt return." So ashes on Ash Wednesday, the first day of Lent, are religious reminders, just like holy water and palms on Palm Sunday.
Catholics are also expected to abstain from eating meat on Ash Wednesday.