A honeypot is a system specifically set up to attract and trap potential attackers. It mimics a real system with vulnerabilities, enticing attackers to interact with it. By monitoring the honeypot, security professionals can gather valuable information about the attackers' methods and intentions without exposing the actual production systems to risk. Honeynets and honeyfiles serve similar purposes but on a larger scale or with specific file types, respectively, while honeytokens are used to track and detect unauthorized access to data.