A secret phrase, also known as a seed phrase, recovery phrase or mnemonic phrase, is a sequence of words that are used to generate the private key for a blockchain wallet. The private key is used to access and manage the funds associated with the wallet's corresponding public address. These phrases are usually 12-24 words long and are meant to be kept secret. It is important to note that anyone with access to the secret phrase will also have access to the funds in the associated wallet, so it is important to keep it secure.

To better understand the importance of the secret phrase and keeping it secret, you can think of it as the combination of the safe where your funds are stored. If an ill-intentioned actor gains access to your safe’s combination, they have easy access to your funds. This can and will most of the time result in their loss.