A product key is a unique code used to verify that a copy of a software program is legitimate and is being used according to the license agreement. This is a primary method used by software publishers to prevent piracy. In contrast, a password protects a user's access to an already installed application or system and does not verify the software's license. While terms like 'activation key' and 'serial number' are sometimes used interchangeably with 'product key', the main function of the product key is to validate the right to use the software.
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