On a related note, here's a base converter for arbitrary base conversion I created for you. Enjoy!
https://convert.zamicol.com/
What are Padding Characters?
Padding characters help satisfy length requirements and carry no meaning.
Decimal Example of Padding:
Given the arbitrary requirement all strings be 8 characters in length, the number 640 can meet this requirement using preceding 0's as padding characters as they carry no meaning, "00000640".
Binary Encoding
The Byte Paradigm: The byte is the de facto standard unit of measurement and any encoding scheme must relate back to bytes.
Base256 fits exactly into this paradigm. One byte is equal to one character in base256.
Base16, hexadecimal or hex, uses 4 bits for each character. One byte can represent two base16 characters.
Base64 does not fit evenly into the byte paradigm (nor does base32), unlike base256 and base16. All base64 characters can be represented in 6 bits, 2 bits short of a full byte.
We can represent base64 encoding versus the byte paradigm as a fraction: 6 bits per character over 8 bits per byte. Reduced this fraction is 3 bytes over 4 characters.
This ratio, 3 bytes for every 4 base64 characters, is the rule we want to follow when encoding base64. Base64 encoding can only promise even measuring with 3 byte bundles, unlike base16 and base256 where every byte can stand on it's own.
So why is padding encouraged even though encoding could work just fine without the padding characters?
If the length of a stream is unknown or if it could be helpful to know exactly when a data stream ends, use padding. The padding characters communicate explicitly that those extra spots should be empty and rules out any ambiguity. Even if the length is unknown with padding you'll know where your data stream ends.
As a counter example, some standards like JOSE don't allow padding characters. In this case, if there is something missing, a cryptographic signature won't work or other non base64 characters will be missing (like the "."). Although assumptions about length aren't made, padding isn't needed because if there is something wrong it simply won't work.
And this is exactly what the base64 RFC says,
In some circumstances, the use of padding ("=") in base-encoded data
is not required or used. In the general case, when assumptions about
the size of transported data cannot be made, padding is required to
yield correct decoded data.
[...]
The padding step in base 64 [...] if improperly
implemented, lead to non-significant alterations of the encoded data.
For example, if the input is only one octet for a base 64 encoding,
then all six bits of the first symbol are used, but only the first
two bits of the next symbol are used. These pad bits MUST be set to
zero by conforming encoders, which is described in the descriptions
on padding below. If this property do not hold, there is no
canonical representation of base-encoded data, and multiple base-
encoded strings can be decoded to the same binary data. If this
property (and others discussed in this document) holds, a canonical
encoding is guaranteed.
Padding allows us to decode base64 encoding with the promise of no lost bits. Without padding there is no longer the explicit acknowledgement of measuring in three byte bundles. Without padding you may not be able to guarantee exact reproduction of original encoding without additional information usually from somewhere else in your stack, like TCP, checksums, or other methods.
Examples
Here is the example form RFC 4648 (http://tools.ietf.org/html/rfc4648#section-8)
Each character inside the "BASE64" function uses one byte (base256). We then translate that to base64.
BASE64("") = "" (No bytes used. 0%3=0.)
BASE64("f") = "Zg==" (One byte used. 1%3=1.)
BASE64("fo") = "Zm8=" (Two bytes. 2%3=2.)
BASE64("foo") = "Zm9v" (Three bytes. 3%3=0.)
BASE64("foob") = "Zm9vYg==" (Four bytes. 4%3=1.)
BASE64("fooba") = "Zm9vYmE=" (Five bytes. 5%3=2.)
BASE64("foobar") = "Zm9vYmFy" (Six bytes. 6%3=0.)
Here's an encoder that you can play around with: http://www.motobit.com/util/base64-decoder-encoder.asp