phase
The phase of a wave tells you where in its repeating cycle the wave is at a given place and moment — at a crest, at a trough, or somewhere in between. It is usually measured as an angle that runs from zero up to a full turn and then starts over. Phase by itself is invisible; what matters, and what you can actually observe, is the difference in phase between two waves or between a wave at two different points.
Phase differences are the engine of interference. Two waves that arrive exactly in phase, crest aligned with crest, add up to a strong combined wave; two that arrive exactly out of phase, crest aligned with trough, cancel each other out. Every bright and dark band in an interference pattern is bookkeeping over phase: bright where the path lengths bring the waves into step, dark where they pull them apart by half a cycle.
In quantum mechanics phase takes on even deeper importance because the wavefunction is described by complex numbers, each carrying both a size and a phase. Relative phases between the parts of a superposition determine how those parts interfere and therefore the probabilities of what you will measure. Phase is precisely the fragile resource that which-path measurement and decoherence destroy, which is why protecting it is the central challenge of building quantum technologies.
Only phase differences matter: waves in step add, waves out of step cancel.
An overall phase shared by the whole wavefunction has no observable effect; only relative phase between parts of a superposition shows up in measurements. This is why a global phase is said to be unphysical while relative phase is real.