TXT just stands for Text. These records do not change anything on your domain, but they can be searched for your domain. These records are commonly used by services such as Google, which will ask you to add a string of characters to a TXT record so that they can search for the record and verify that you are the domain’s owner/have access to the domain’s DNS records. Also, applications can use this to check information about a service you are running, commonly SPF records, Domain Keys, and DKIM (two other email verification processes).
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