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In this video, the speaker explains basic authentication in under five minutes. Basic authentication is a mechanism where a client can authenticate with a web server using a username and password encoded as an HTTP header. The browser prompts the user for their credentials when they connect to the server, and it's not part of the web page itself. The example shown involves the browser making a request to the server, which responds with a 401 status code, triggering the user to input their username and password.