Binding off (also called casting off) is how you finish knitting by securing the live stitches so they can't unravel. The standard method knits two stitches, then lifts the first over the second, working across until one stitch remains.
Bind-off tension matters: too tight and a sock cuff or neckline won't stretch over your head, so many patterns call for a stretchy bind-off. It's the knitting counterpart to fastening off in crochet.