What is a 'Variable' in Python?

A variable is like a plastic container in your mother's kitchen. You put a label on it, like 'Salt', and put salt inside. Later, you could empty it and put sugar instead.

In Python, you might say price = 500. Now, whenever you say 'price', Python remembers the number 500. It's just a way to store information so we don't have to keep typing it.