A TXT record, as the abbreviation suggests, is a record, that holds information in human-readable form and not code. It could be created for a domain or a subdomain for a number of purposes. Search engines, for instance, have different ways of verifying you're the owner of a given domain and one of them is by creating a TXT record with unique text which they provide and that you should use as the record value. The very same verification method is employed by some analytics platforms that check the traffic to your websites as well. Needless to say, in this case the content of the record will be read by a robot, but it will still be in human-readable form. A TXT record is also used when you enable the so-called SPF protection for your email addresses so that you can prevent them from being forged. In such a case, the record contains data showing that a certain digital message is sent from a dependable and authorized mail server. You may use a TXT record for any other information also, like your business details, as an example.
