A widget is a small application you can add to a web page which performs a specific function. For Example; there are widgets for simply adding text or images to your page, while others may perform a function such as linking to your Social Media pages or adding a Page Counter to document how many times your page is viewed. There is a widget that acts as a Page Menu and yet others that show the weather, report news, and more!
It is likely that most of your widgets will be simple text widgets. Imagine that you have a web page, containing 5 paragraphs. Those 5 paragraphs could be 1 text widget, or 5 text widgets. Depending on the layout of your page, it "might" make sense to have 5 individual widgets. When you separate them it makes it a little easier to add things between your text, such as headers, images, spacers or anything else you'd like. For Example, if you want to add images between your text, you just add a new image widget between your text widgets, select the image you would like to display and you're done!
Widgets are handy tools provided to make your page user friendly and interactive. Once you've played with TalkSpot for a little while, it should make sense and "widget" will become a new word in your vocabulary!