Meaning – The term cryptographic key refers to the string of characters used within an algorithm for altering the data that is to be encrypted, in such a way, that it appears random to the naked eye.
The cryptographic key works like a physical key, in the sense that only the person with the correct key, can decode the encrypted data and view the true content.
Whenever a group of people, or an organisation, creates a new cryptographic algorithm, they also have to create the corresponding key, so that they can use the same to decrypt the information easily.
Example of usage – “After the group had prepared the cryptographic algorithm, they made the cryptographic key and shared it only amongst each other.”