In one sentence
Canonical URL is a tag that explicitly declares "this is the canonical URL" when the same content is delivered under multiple URLs.
What does this look like in practice?
For example, suppose the same product page is accessible through several URLs:
https://example.com/products/abc(canonical version)https://example.com/products/abc?ref=twitter(for social inflow)https://example.com/products/abc?utm_source=email(for email inflow)