What is a taxonomy?
WordPress taxonomies are used as a way to group posts and custom post types together. WordPress has two very popular taxonomies that people use on a regular basis: Categories and Tags
What is a term?
Term is a unit of category/tag/etc.
E.g. You have post category Outfits. And Outfits (term) is name of category (taxonomy).
How can i get category/tag ID, name (slug)?
For example we need information about Outfits category.
Navigate to Posts -> Categories -> Hover Outfits -> Edit