It stands for a paragraph. It is a majorly used tag in HTML to display content. paragraphs work the same way it works in a book. It displays a chunk of text in a block.
HTML p Example:
Paragraphs are the main building blocks of any article. paragraph occupies most of the article. It helps to separate the content into smaller readable blocks. many popular bloggers use smaller paragraphs to make content easier to read instead of a wall of text.