Aka, an identity element.
Monoids that have inverses (that is, every element has another element that, when combined, produces the identity element) are "groups". Of the examples you gave:
"Strings over composition" does not form a group - there's nothing you can concatenate with a non-empty string to get an empty string.
"Integers over addition" does form a group. The inverse of x is -x.
"Natural numbers over max" is not a group. Once you get above 0 you cannot get back to it just by applying max.
"Booleans over and" is not a group. Once you have false you can't get back to true.
"Functions over composition" is not a group. Many functions have inverses, but some do not. If you restrict the set to "functions with inverses" then you do have a group.