A seed phrase is a set of random words generated automatically by your crypto wallet when you create a new account. Also called mnemonic seed or mnemonic phrase, this random collection of words is critical to helping you recover your account and its funds if you ever lose access to your crypto wallet account.
Seed phrases can be written down and stored securely or backed up in a secure location. You can then re-enter the seed phrase containing the same words in the exact order they were generated if you ever wish to regain access to your wallet's crypto funds.
You can think of the seed phrase as a master key to your crypto wallet. If you ever lose the device on which your wallet was functional, you can set up the account on another device or access it from a new device with the help of your seed phrase.
However, storing the seed phrase in a secure location is essential. If malicious actors access your seed phrase, they could potentially gain access to your wallet and empty your funds.