I will provide an answer in the context of Git:
After you install Git, you can initialize it onto a project to create a new repository. A Git repository is the .git/ folder inside of a project. This repository tracks all changes made to files in your project, building a history over time.
Here's a tutorial video that covers what a Git repository is that may be helpful!
@Mick Roffey Welcome to the community!
Repository in simplest term is a place where resources/things are stored.
Now in terms of Atlassian Bitbucket, or GIT, it is a place where source code is stored.
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