Domain name resolution generally refers to the IP address that your computer believes a domain name should resolve to. When you type in a domain name in a browser your ISP (Internet Service Provider) usually has name servers that look up the IP location of the server hosting that website. Sometimes this information may be cached for a time. This is why there is often some time needed for DNS changes to propagate. Some more information on DNS propagation and caching can be found here.
Often there is also a host file on your computer where you can specify the IP a certain domain should resolve to. This is more of an advanced process though and is generally not needed unless you are having a lot of problems related to your ISP resolving your domain.
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