How to Use the Respawn Anchor and Lodestone
Respawn Anchor
Craft a Respawn Anchor using Crying Obsidian and Glowstone in a crafting recipe. Place it in the Nether or anywhere you want to set your spawn point. Use Glowstone on the Respawn Anchor to charge it; each charge allows one respawn. When you die, you will respawn at the anchor if it is charged. In the Overworld, the anchor does not work unless charged, and it explodes if used in the wrong dimension. Use it to set a safe respawn near your Nether base.
Lodestone
Craft a Lodestone using Chiseled Stone Bricks and a Netherite Ingot in a crafting recipe. Place the Lodestone anywhere. Use a Compass on the Lodestone to bind the compass to that location. The compass will then point to the lodestone instead of world spawn. This works across dimensions. You can use multiple lodestones with different compasses. To unbind, use the compass on a different lodestone or break the lodestone. Both blocks are useful for navigation and respawning in the Nether.