A magnetic strip is a thin, flexible band made of plastic that contains a magnetic coating. This strip is commonly found on the back of credit cards, debit cards, and identification cards. It stores data by using tiny magnetic particles that can be magnetized in different directions to represent information. When a card with a magnetic strip is swiped through a reader, the device detects the magnetic signals and decodes the stored data. This technology is widely used in various applications, including access control systems and public transportation, making transactions and identification processes more efficient.